Minerva Bunkering is a supplier of marine fuels and

bunkering Bunkering is the supplying of fuel for use by ships (Marine diesel oil, such fuel is referred to as bunker), including the logistics of loading and distributing the fuel among available shipboard tanks. A person dealing in trade of bunker (fue ...

services headquartered in

Geneva Geneva ( , ; ) ; ; . is the List of cities in Switzerland, second-most populous city in Switzerland and the most populous in French-speaking Romandy. Situated in the southwest of the country, where the Rhône exits Lake Geneva, it is the ca ...

, Switzerland. It was founded in 2019 as a wholly owned subsidiary of Mercuria Energy Group. It quickly absorbed the larger Aegean Marine Petroleum Network (AMPNI), a public company listed on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...

, when Aegean was acquired by Mercuria, and Minerva Bunkers, another subsidiary of Mercuria founded in 2014

History

Roots of Minerva Bunkering go back to Aegean Marine Petroleum Network (AMPNI), established in 1995 by

Dimitris Melissanidis Dimitris Melissanidis (; born 8 March 1951) is a Greek business shipping and oil tycoon, and one of the country's leading businessmen. Melissanidis is in the top ten rich list of Greek entrepreneurs ranking in 6th place. He is most known for his ...

Piraeus Piraeus ( ; ; , Ancient: , Katharevousa: ) is a port city within the Athens urban area ("Greater Athens"), in the Attica region of Greece. It is located southwest of Athens city centre along the east coast of the Saronic Gulf in the Ath ...

, Greece, and Minerva Bunkers Pte Ltd., established in December 2014 by Mercuria in

Singapore Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...

. Aegean Marine Petroleum Network started to operate with one bunkering station in the

Port of Piraeus The Port of Piraeus () is the chief sea port of Athens, located on the Saronic Gulf on the western coasts of the Aegean Sea, the largest port in Greece and List of busiest ports in Europe, one of the largest in Europe. The Chinese state-owned CO ...

. The second bunkering station was opened in Gibraltar in 1997, followed by stations in Fujairah (2001), Kingston,

Kingston Kingston may refer to: Places * List of places called Kingston, including the six most populated: ** Kingston, Jamaica ** Kingston upon Hull, England ** City of Kingston, Victoria, Australia ** Kingston, Ontario, Canada ** Kingston upon Thames, ...

(2005),

(2006), and other locations around the world. In 2006, it was listed in

through a public offering. Minerva Bunkers began with a core group of more than 40 marine fuel specialists who came from the bankrupt Danish ship-fuel supplier OW Bunker in December 2014. In August 2018, Mercuria Energy Group acquired almost one-third of AMPNI's shares. In October 2018, an audit revealed substantial accounting problems at Aegean, to the tune of US$300 million. Aegean Marine commenced its Chapter 11 process in November 2018, reorganizing in order to improve its liquidity. Under the terms of the restructuring deal, Mercuria Energy Group received 100% of the common equity of the reorganized company. The US Bankruptcy Court approved of the company's reorganization plan in March 2019. Consequently, Aegean Marine was acquired by Mercuria, and its assets were taken over by the newly Minerva Bunkering. Correspondingly, the headquarters of the company was moved to

, Switzerland.

Operations

Minerva Bunkering is a marine fuel logistics company that physically supplies and markets refined marine fuel and lubricants to ships in port and at sea. It operates from hubs in

Athens Athens ( ) is the Capital city, capital and List of cities and towns in Greece, largest city of Greece. A significant coastal urban area in the Mediterranean, Athens is also the capital of the Attica (region), Attica region and is the southe ...

, New York,

Antwerp Antwerp (; ; ) is a City status in Belgium, city and a Municipalities of Belgium, municipality in the Flemish Region of Belgium. It is the capital and largest city of Antwerp Province, and the third-largest city in Belgium by area at , after ...

and

Las Palmas Las Palmas (, ; ), officially Las Palmas de Gran Canaria, is a Spanish city and capital of Gran Canaria, in the Canary Islands, in the Atlantic Ocean. It is the capital city of the Canary Islands (jointly with Santa Cruz de Tenerife) and the m ...

. Recently Minerva Bunkering Expanded Presence in Americas with Bomin Acquisition.

References

External links

* {{Authority control Companies formerly listed on the New York Stock Exchange Oil and gas companies of Greece Oil and gas companies of Switzerland Shipping companies of Greece Shipping companies of Switzerland Companies that filed for Chapter 11 bankruptcy in 2018 Energy companies established in 1995 Transport companies established in 1995 Greek companies established in 1995

History

Operations

See also

References

External links