Limassol, Cyprus | December 10, 2025 – Island Oil (Holdings) Ltd, a leading global marine fuel and lubricants trading company, has announced the acquisition and official addition of its newly purchased vessel, the bunkering vessel MT Ruby, to its operational fleet.
The acquisition is a strategic move to enhance Island Oil’s physical supply capabilities and flexibility in serving its clients’ marine fuel needs. Notably, the Ruby is the sister vessel to the company’s Astraia, further standardising and strengthening the efficiency of its specialized bunkering operations.
Upholding Maritime Tradition
In keeping with maritime tradition, Island Oil held a Greek Orthodox blessing ceremony onboard the Ruby earlier today.
“Together with members of her crew and colleagues from our team, we wished her fair winds, safe voyages, and calm seas as she begins this new chapter under our ownership,” the company stated in its announcement.
The vessel’s arrival was marked by a special passage right in front of the company’s seafront offices in Limassol, Cyprus, a symbolic moment for the team.
The addition of the Ruby underscores Island Oil’s ongoing commitment to reliability, safety, and high-quality service in the dynamic marine fuel market. The company operates physical supply stations in key locations across Europe, the Middle East, and East Asia, including Cyprus, Constanta, Haifa, and South Korea.
About Island Oil
Founded in 1992 and headquartered in Limassol, Cyprus, Island Oil (Holdings) Ltd has grown into one of the maritime industry’s most respected names in marine fuel and lubricants trading. With a global team of approximately 300 shore and sea personnel, the company offers a full range of services to clients around the world.
Core Business Activities
- Marine Fuel Trading: VLSFO, MGO, and other marine fuel grades
- Physical Supply: Operated through a fleet of owned and managed bunker vessels in key locations
- Marine Lubricants: Global supply of lubricants tailored for vessel requirements
- Ship Ownership & Management: Small oil tankers, including IMO 2, IMO 3, and LPG/C vessels
- Ship Agency Services: Port agency coverage in Island Oil locations
- Domestic Fuel Supply: Active in select regional markets
- Compliance & Credit Systems: Strong vessel screening, compliance, and financial controls
Global Network & Locations
Island Oil is headquartered in Limassol, Cyprus, and maintains a growing network of trading offices in Piraeus, Singapore, London, Shanghai, Hong Kong, Constanta, Haifa, Seoul, and Dubai, which was officially opened in July 2025 as the company’s seventh global trading desk. The company also operates physical supply stations in Cyprus, Constanta, Haifa, and South Korea, reinforcing its operational footprint across Europe, the Middle East, and East Asia, and enabling efficient, localized service to clients in key maritime regions.
Island Oil’s global reach and controlled growth strategy allow it to provide dependable, high-quality services across a diverse and complex maritime landscape. Island Oil is a proud member of several leading industry organizations, including the Cyprus Shipping Chamber, CYMEPA, The Institute of Chartered Shipbrokers, IBIA, and BIMCO, affirming its dedication to high standards and sustainability in maritime energy.
Source Island Oil (Holdings) Ltd