JPMorgan and Chemoil Energy Limited (Chemoil) say they have set up a strategic alliance that will bring together JPMorgan's activities in the international commodities derivatives markets and Chemoil's in physical bunker sales.
Blythe Masters, Global Head of Commodities for JPMorgan said that this further underscores the commitment that JPMorgan has to the energy trading and marketing business, and is indicative of the growth planned for the business. "I'm very pleased with the potential for our alliance with Chemoil. Both companies can see the mutual advantages that could be derived from sharing our strengths to the benefit of our respective clients. We are thrilled to be able to bring full service physical oil capabilities to our vast client base and to be able to provide world class derivatives expertise to the clients of Chemoil."
Bob Chandran, CEO of Chemoil, said: "It is clear that there is the potential for cooperation which would be advantageous for both companies as well as our clients. The two companies are highly respected and experienced players and by working together we could create some important business opportunities which would benefit both companies."
JPMorgan has developed a leading international derivatives platform, offering clients a range of capabilities including exotic derivatives, credit intensive structures, long dated physical supply deals and integrated financing capabilities. The firm's strong balance sheet has supported its growth and the talks with Chemoil are part of a global expansion strategy.
Singapore -listed Chemoil now operates across international markets in physical products features global bunkering, US clean products, such as LAX jet supply and West Coast unleaded and diesel, a highly successful trading platform, existing and developing storage assets and access to tankers and barges.”
Blythe Masters, Global Head of Commodities for JPMorgan said that this further underscores the commitment that JPMorgan has to the energy trading and marketing business, and is indicative of the growth planned for the business. "I'm very pleased with the potential for our alliance with Chemoil. Both companies can see the mutual advantages that could be derived from sharing our strengths to the benefit of our respective clients. We are thrilled to be able to bring full service physical oil capabilities to our vast client base and to be able to provide world class derivatives expertise to the clients of Chemoil."
Bob Chandran, CEO of Chemoil, said: "It is clear that there is the potential for cooperation which would be advantageous for both companies as well as our clients. The two companies are highly respected and experienced players and by working together we could create some important business opportunities which would benefit both companies."
JPMorgan has developed a leading international derivatives platform, offering clients a range of capabilities including exotic derivatives, credit intensive structures, long dated physical supply deals and integrated financing capabilities. The firm's strong balance sheet has supported its growth and the talks with Chemoil are part of a global expansion strategy.
Singapore -listed Chemoil now operates across international markets in physical products features global bunkering, US clean products, such as LAX jet supply and West Coast unleaded and diesel, a highly successful trading platform, existing and developing storage assets and access to tankers and barges.”