Mercuria Energy Group’s business Minerva Bunkering started deliveries in Egypt, and entered the market after being awarded a license to do so.
Minerva Bunkering, a subsidiary of Mercuria Energy Group which is a large privately-held energy and commodities company, has completed its first ten bunker deliveries in the Suez Canal and ports of Egypt, including to Hafnia’s MV Hafnia Azurite and Cargill Ocean Transportation’s MV Gat Feeling.
Deliveries have been performed for vessels awaiting northbound and southbound of Canal transit convoys with no lost time taking bunkers.
Minerva has completed the bunker deliveries using a 150k deadweight floating storage unit (MV Cronus), as well as five modern owned and operated bunkering tankers.
The subsidiary is licensed to operate in Suez Canal waiting anchorages and 12 Egyptian ports, including East and West Port Said, Alexandria, Damietta, Suez and Sokhna.
The new bunkering service has been developed in close cooperation with the Egyptian Ministry of Petroleum, Suez Canal Authority, Suez Canal Economic Zone, EGPC, Ministry of Transportation, and all relevant port authorities.
“With more than 23,000 vessels transiting the Suez Canal each year and significant additional vessel traffic calling domestic ports, Egypt represents one of the world’s most strategic maritime markets. Bringing Minerva’s industry-leading physical supply chain, fuel quality performance, and operational excellence will add significant value to the international shipping community and their vessels operating in Egyptian ports and waters,” said Minerva CEO Tyler Baron.
“Minerva’s objective is to empower our customers to lower their total cost of bunkers procurement. Refueling vessels while they await canal transits, thereby avoiding the costly deviation and lost time of a bunkers-only call, does just that,” Baron continued.
Minerva’s Egyptian service leverages its physical footprint in the Mediterranean and expanding presence in Saudi Arabian Red Sea ports.
It’s worth mentioning that Minerva Bunkering is a supplier of marine fuels and related solutions, serving ships calling over 150 ports.
The company, a 100% owned subsidiary of Mercuria Energy Group, procures product in bulk from diverse sources and delivers to over 750 active customers across all major commercial shipping sectors, including container ships, dry bulk carriers, cruise ships, tankers and ferries.