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Leading independent oil firm Greenergy International has entered into partnership with bunker company Cockett Marine Oil Ltd to sell marine fuel oil to the shipping industry on the Thames.

Cockett Marine, which has operated predominantly as a bunker trader for more than 30 years, now reportedly intends to move into the physical supply sector in strategic locations.

As part of the new agreement, Greenergy will store marine oil on the Thames estuary to supply a growing volume of traffic in and around the area, including the US$3 billion shipping and logistics park on the Thames Gateway and traffic related to the construction of the Olympic Park in East London.

Commenting on the deal, Greenway said "This announcement is a significant development for the shipping industry using the Port of London. There is currently no other barge supply of marine fuel oil bunkers on the Thames, and shippers will now be able to buy their fuel locally, at competitive prices and from reliable suppliers, rather than at other ports."

"The partnership combines the relative strengths and synergies of Greenergy and Cockett in the areas of supply, shipping, storage, risk management & marketing to create a strong, reliable and dynamic new supply entity," Greenway added.

Andrew Owens, Chief Executive of Greenergy commented “This partnership enables Greenergy to expand its client portfolio into the marine sector over and above our traditional road fuel market.”

Karl Beeson, Managing Director of Cockett Marine Oil said “This is an exciting new venture for Cockett Marine Oil and a chance to develop the business in a direction which takes full advantage of the strength and resources of the wider parent group. We anticipate a very successful future partnership with Greenergy and are pleased to be commencing with a much needed service in the country’s capital city”.