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Bunker Index recently carried out an interview with George Diakoumakos, General Manager, Hamburg, Praxis Energy Agents S.A., where he discussed the company's development, strategies and reasons for establishing an office in a fourth maritime centre - Hamburg.

Question: Could you give a brief description of how the company has developed since it was founded and what the strategy has been during this period?

George Diakoumakos: Since our group’s establishment in 1993, Praxis Energy Agents have serviced over 1000 ports around the world. What began as a small shop out of Glyfada, Athens, is now a success in Athens, New York, Singapore and Hamburg. The strategy is a basic determination to service the diverse and challenging needs of our international clientele in a dynamic industry and to enhance our business.

Q: Has the company's strategy changed over the years?

GD: No, we have a fundamental commitment to service our clients from nomination to delivery. Our steady focus is to support and reinforce our network and continue to provide the best service from nomination to delivery for everyone involved. The Hamburg office will be an additional way for us to enhance our services. We’re excited about the opportunities there.

Q: What are your company's main strengths?

GD: Reliability, competence and performance are our biggest components in building a one-stop-shop fortified with resources to presently service many of the world’s leading shippers. Operational know-how, competitive pricing, and well established credit lines are all qualities that we pride in our business.

Q: Why did your company decide to set up an office in Hamburg?

GD: We can better serve our existing clients through a presence in a fourth major maritime hub as well as look forward to growing our business and sharing that growth with our esteemed suppliers. Staying close to the pulse of the market in Hamburg will be rewarding for all our offices.

Q: How has the economic downturn affected your business?

GD: In the past 2 years, shipping has seen a remarkable turnaround. Fickle oil prices and changing priorities have made all service-orientated businesses adapt to changing market conditions. Distinct relationships and long-standing alliances with suppliers and business partners allow Praxis to support marine fuel procurements and effectively handle business as a proven, reliable trader throughout the shifting economic environment.

Q: What do you see as the main challenges facing your company over the coming years?

GD: The emerging markets (BRIC countries) will likely drive our plans, as they continue to drive rest of the world’s energy needs. The new low-sulfur regulations and how they affect our industry.

Q: What can you tell us about your company's plans for the future?

GD: We are always monitoring opportunities to grow the business in new markets; it is a big part of our strategic planning.