November 2018

Bomin Exits the Bunker Markets in Singapore and Antwerp

In September, Bomin announced that it was withdrawing from the bunker markets in Singapore and Antwerp, and that it would in future operate its business from two offices only: Houston and Hamburg. The two offices will serve all Bomin customers in all German ports, the US Gulf Coast, Panama, Norfolk, and Ecuador.

The Bomin group is in a transformation and restructuring process, and intense competition and low margins characterize the situation in all major ports. In November, Bomin then signs an agreement to sell its Belgium operations to certain individuals of the Somers family, controlling the tanker shipping company Somtrans. As from January 2019 the company will be rebranded, and the employees of Bomin Belgium will be able to continue the business.