Norwegian Oil Trading AS, a distinguished leader in global bunker brokerage, is undergoing a significant transformation. Effective September 2, 2024, the company will rebrand as Norwegian Energy Trading AS. This strategic move reflects the company’s commitment to advancing a more diversified and sustainable energy future for the maritime industry.
Strategic Rebranding to Embrace Sustainability
The decision to change the company’s name to Norwegian Energy Trading AS aligns with the evolving energy landscape and the increasing demand for cleaner, more sustainable energy solutions. This rebranding is not merely cosmetic; it signifies a pivotal shift in the company’s strategic direction, reinforcing its dedication to supporting the maritime industry’s transition towards greener energy sources.
Despite the change in name and visual identity, Norwegian Energy Trading AS will retain the same ownership, company registration, financial stability, and experienced team that has been integral to its success. This continuity ensures that the company’s high standards of service and reliability will remain unchanged.
Norwegian Energy Trading AS in Brief
Norwegian Energy Trading AS, previously known as Norwegian Oil Trading, boasts over 50 years of unparalleled expertise in the bunker brokerage sector. The company has built a solid reputation through its extensive experience and robust track record, working with some of the leading ship owners and operators globally.
Enhanced Services and Industry Expertise
The company’s expertise spans various critical areas, ensuring that it meets the diverse needs of its clients:
- Bunker Brokerage: In response to significant consolidation within the bunker industry, Norwegian Energy Trading AS has experienced a surge in demand for independent brokerage services. The company offers full transparency in negotiations with physical bunker suppliers and barge operators, leveraging its own licenses and Bunker Delivery Notes (BDN). The firm’s vision is to be the preferred and trusted partner in the bunker procurement process.
- Credit Facilitation: With the advent of IMO 2020 regulations, the bunker industry faces increased credit risk and higher bunker prices. Norwegian Energy Trading AS has proactively secured large credit facilities with major global suppliers and extended its bank facilities to accommodate upcoming regulatory changes. The company provides credit facilitation and various pricing models tailored to customer requirements, supported by its extensive experience and secure term contracts.
- Market Intelligence: For over 30 years, Norwegian Energy Trading AS has offered market analytics through daily oil market updates and client requests. The company’s insights are frequently sought by financial newspapers in Norway, providing valuable commentary on oil prices and helping clients time their inquiries effectively.
- Benchmark Solutions: Known for its coveted benchmark services, Norwegian Energy Trading AS delivers extensive transparency and cost savings through tailored benchmark solutions. These services can be customized to meet the needs of individual brokers or groups of brokers, offering significant value to clients.
- Risk Management: The company provides expert advice on price risk management in a volatile oil market. Bunker hedging services help clients manage their exposure to fluctuating oil prices, ensuring predictable operating costs throughout the year.
- Outsource Procurement: Norwegian Energy Trading AS offers fully integrated bunker procurement solutions, managing all aspects of the procurement chain from communication with ships, agents, and suppliers.
Global Presence and Recent Achievements
Norwegian Energy Trading AS operates globally with strategic offices in key locations:
- Singapore Office: Established in 2014, this office provides localized support and expertise to clients in the Asia-Pacific region.
- Miami Office: Opened in 2017, this office offers coverage for the western hemisphere, enhancing the company’s global reach.
Earlier this year, the company achieved ISCC certification for the sale of biofuels, demonstrating its commitment to sustainable energy solutions. for the sale of biofuels, demonstrating its dedication to promoting sustainable and environmentally friendly energy solutions.
Contact Information:
- General E-mail: Bunkers (at) NorwegianEnergyTrading.com
Hesnes Group in Brief
Norwegian Energy Trading AS is a prominent member of the Hesnes Group, a reputable Norwegian, family-owned enterprise with a history dating back to 1974. The Hesnes Group operates across various sectors, including shipbroking, bunker broking, insurance broking, ship owning, and real estate and financial investments. The group is known for its innovative approach and solid growth, employing a dedicated team of professionals. With a legacy of introducing pioneering shipping concepts, the Hesnes Group maintains a robust market position and continues to drive advancements in its core businesses.
The rebranding to Norwegian Energy Trading AS marks a new chapter in the company’s journey, reflecting its enhanced focus on sustainability and innovation. This transformation underscores the company’s commitment to leading the maritime industry towards a more sustainable and energy-efficient future. the company’s journey, reflecting its evolving focus and dedication to a more sustainable and diversified energy future.
Source Norwegian Energy Trading