---

Danish bunker supplier and trader OW Bunker has today announced that MARAG A/S will join its network of companies and be renamed as OW Copenhagen from December 2008.

MARAG, part of the Wrist Group for twenty years, has always retained its independent status as a broker and trader within the bunker market.

The company was established in 1893 and acquired by the Wrist Group in 1987. As OW Copenhagen, it will continue to provide trading services to its customers.

In a statement released today, OW Bunker said "This latest move will ensure that the new company benefits from having access to OW Bunker’s international network, it’s operational excellence, financial strength, as well as increased credit lines."

"As the industry continues to professionalize, customers will also benefit from OW Bunker’s knowledge, expertise and experience of the demands and challenges of operating on a global basis," OW Bunker added. Commenting on the announcement, Götz Lehsten, Vice President, OW Bunker said: “MARAG has a tremendous history and pedigree of providing broking and trading services to the bunker industry for over 100 years. Their understanding of the local market in Denmark, and their expertise is clearly demonstrated through the prestigious Danish ship owners who they count as their customers.”

“I am confident that as OW Copenhagen, they will continue to go from strength to strength as they marry the quality of their local offering with the advantages of working directly with OW Bunker’s international network and the financial, logistical and knowledge-based benefits that go with it.”

Per Larsen, Assistant Manager, OW Copenhagen said: “It is vital that in the current volatile economic climate we utilize the strength of the Wrist Group. Solidifying our relationship and re-branding as OW Copenhagen will create a stronger infrastructure for the company, enabling our employees to benefit from the professionalism that goes with working for OW Bunker such as its industry leading international training programme.

"It will also open up new avenues of opportunity and provide access to specialist skills and services that we will be able to pass on to our customers.”