February 2010

Expansion of the Bunker Business – Oman and South Africa

Mabanaft has been successfully involved in the bunker business on the U.S. Gulf Coast for years through its subsidiary Matrix Marine Fuels. Based on these many years of experience, the company further expands its bunker activities under the umbrella of the newly founded Matrix Marine Holding in Hamburg. After the addition of Singapore and India in 2008 and 2009, the bunker supply business is now established in Oman and South Africa as well.

To achieve this, in mid-January Matrix Marine Holding and Oman Oil sign a collaboration agreement in Oman, with the objective of offering bunker services at the Port of Sohar from mid-2010. Sohar is a very attractive location because of its proximity to the Strait of Hormuz, a major shipping route in the Middle East.

In South Africa, at the beginning of February another joint venture is established between Matrix Marine Holding and Calulo Services, which is already active in the local bunker market through its subsidiary Kepu Trading. Matrix Kepu Bunkers initially offers its services in major South African ports, such as Durban, Richards Bay, and Cape Town. In the medium term, an expansion along the East and West African coast and to the islands in the Indian Ocean is planned.