Finecor Oil Bunkering Plans Global Expansion in Bunker Market

by Admin
Finecor oil bunkering expands

Finecor Oil Bunkering S.A., a prominent physical bunker supplier in Greece, is gearing up for extensive international expansion following a period of exceptional financial success. The company, renowned for its supply of marine fuels and lubricants, has reported substantial revenue and profitability growth, setting the stage for ambitious global initiatives.

Founded in 2001, Finecor Oil Bunkering has rapidly established itself as a leading physical bunker supplier in Greek ports, servicing over 500 clients including major maritime firms such as CMA CGM, MSC, and Hapag Lloyd.

The company operates a fleet of over 100 trucks to ensure reliable product deliveries in Piraeus, Elefsina, Perama, Drapetsona, Aspropyrgos, Lavrio, Kalamaki-Corinth, San Nicolas Viotia, Stylida, Larymna, Patra, Volos, Thessaloniki, and all other ports around Greece.

During the fiscal years 2022 and 2023, Finecor Oil Bunkering achieved a remarkable 92% increase in revenue, surpassing €32.40 million in 2023 from €13.74 million in 2021.

Finecor Oil Bunkering Prepares for Global Expansion

Buoyed by this strong financial performance, Finecor Oil Bunkering is now poised to expand its footprint in the global bunker market. The company has announced plans to launch operations in strategic hubs including Singapore, the United Arab Emirates, and Malta, where it will provide round-the-clock services to meet global maritime demands effectively.

“We are thrilled to embark on this next phase of growth,” said Christoforos Yfantidis, Chief Executive Officer of Finecor Oil Bunkering. “Our expansion into the global bunker market underscores our commitment to enhancing service capabilities and meeting the evolving needs of our global clientele.”

In addition to geographical expansion, Finecor Oil Bunkering is exploring opportunities to acquire a petroleum storage facility in Greece aimed at bolstering its logistical infrastructure and enhancing service efficiency.

Looking ahead to 2024, Finecor Oil Bunkering aims to build upon its momentum with a targeted 20% increase in sales, driven by continued expansion efforts and steadfast dedication to delivering exceptional service in compliance with international standards, including ISO 8217:2017 specifications.

Finecor Oil Bunkering’s strategic international expansion initiatives mark a significant milestone in its journey towards becoming a global leader in marine fuel supply, leveraging its proven track record and commitment to excellence to propel growth and innovation in the industry.

Source Finecor Oil Bunkering