Bunker One and Vertex Energy Inc. Enter Strategic Alliance
Bunker One, a leading global physical supplier, announced the execution of a strategic alliance and agreement with Vertex Energy Inc., strengthening the company’s position in the U.S.
By entering this agreement Bunker One has further memorialized its long-term commitment with Vertex Energy Inc. through a non-dilutive equity investment which makes Bunker One a top investor in Vertex Energy shares. The agreement provides Bunker One an exclusive off-take of Vertex’s very low sulfur fuels/components. It also provides Vertex the necessary commitment to continue expanding their marine fuel production capacity to support Bunker One’s growth in the years to come. This ensures its customers ratable access to high quality IMO compliant fuel across the U.S.
Commenting on the strategic alliance with Vertex Energy Inc. Carlos G Torres, Global Head of Physical Bunker One, said: “This is a great example of the efforts we have been working on for the last couple of years to ensure we can support our customers in the best way possible as the industry transition into the IMO 2020 0.5 percent sulfur cap implementation. To comply with the new regulations it has become more important for customers to buy fuels from physical suppliers that are vertically integrated. The agreement with Vertex Energy solidifies Bunker One’s position as a vertically integrated supplier of marine fuels in the U.S. I am very pleased with the agreement which makes an excellent foundation for our U.S. operations moving forward.”
Bunker One has experienced massive growth - and with 22 locations worldwide, it has tripled the number of physical locations since Bunker One saw daylight just two years ago.
Peter Zachariassen, Global Director, Bunker One, said: “This is another major step in demonstrating a strong commitment to our customers, our counterparties and the entire industry. In the short history of Bunker One, we have shown determination not only to expand but to develop and strengthen our relationship with our partners. Investing and focusing on vertical integration are also important statements and a clear manifestation that in Bunker One we walk the talk. We want to push the boundaries, challenge and improve the bunkering dynamics in our industry. And we want a consistent focus on quality in all aspects of the supply chain.”
The products and services herein described in this press release are not endorsed by The Maritime Executive.