South African bunker supplier Vunani Bunkers has entered into a joint venture agreement with US-based bunker broker and trader, Bunkers International Group.
Vunani Bunkers will act as South African representative of the American company in South Africa and for much of the African region. The local bunker company is a division of Vunani Capital Holdings, which is already trading in crude oil and product trading through Vunani Energy. The company has plans to invest further in the South African oil industry.
According to Vunani’s Mark Wild the company intended expanding into physical supply in the South African ports.
"When we combine the global reach of Bunkers International with the local market knowledge of Vunani Bunkers, our worldwide customers will benefit from the strengths of both companies," he said in a statement, adding that they intended acquiring tank storage facilities in local ports and time chartering an offshore tanker to meet demand off Namibia and the Angolan coasts.
In his announcement of the joint venture John Canal, president of Bunkers International Corp said Vunani made a great partner for the US company.
"As we expand our operation globally, we are forming partnerships in local markets with the very best companies. Vunani Bunkers fits into that category and we are very excited to have the chance to work with them."
Vunani Bunkers will act as South African representative of the American company in South Africa and for much of the African region. The local bunker company is a division of Vunani Capital Holdings, which is already trading in crude oil and product trading through Vunani Energy. The company has plans to invest further in the South African oil industry.
According to Vunani’s Mark Wild the company intended expanding into physical supply in the South African ports.
"When we combine the global reach of Bunkers International with the local market knowledge of Vunani Bunkers, our worldwide customers will benefit from the strengths of both companies," he said in a statement, adding that they intended acquiring tank storage facilities in local ports and time chartering an offshore tanker to meet demand off Namibia and the Angolan coasts.
In his announcement of the joint venture John Canal, president of Bunkers International Corp said Vunani made a great partner for the US company.
"As we expand our operation globally, we are forming partnerships in local markets with the very best companies. Vunani Bunkers fits into that category and we are very excited to have the chance to work with them."