Independent journal on economy and transport policy
17:08 GMT+1
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Vitol acquires from Grindrod 50% of the society of bunkeraggio Cockett Marine Oil
joint venture Leopard Tankers orders to four product tankers Mediums Range in Korea
April 13, 2012
After the recent agreement in order to acquire from the Grindrod a participation in the terminal for coal of the port of Maputo ( on 19 January 2012), the Dutch group Vitol has reached a new understanding with the South African company in order to buy 50% of the capital stock of the society of bunkeraggio and fuel sale to marine use Cockett Marine Oil. The two groups have not announced the value of the transaction that is subject to the approval of the authorities antitrust.
Cockett, than work in Europe, America and Estremo East, five million tons of fuel distribute about per year and have in existence the development of a distribution network in strategic resorts. "Vitol - it has found the managing director of Cockett Marine Oil, Karl Beeson - is the ideal partner in order to support the strategy of total increase of the Cockett. Before this transaction - it has remembered - the societies had formed joint venture called Leopard Tankers and will construct to four product tankers Mediums Ranges in Korea that will be taken in delivery in the first half of 2013. The ships will be operated commercially in the within of the Vitol group".
"This investment - the managing director of Grindrod Shipping has commented, Martyn Wade - represents the partnership ideal of a shipowner of experience with commercial an operating head physician who has approached to a considerable base of cargo volumes. The ships anticipate a vanguard project and are equipped of the last motoristiche technologies that allow a remarkable saving in the fuel burnup and the operating costs".
Cockett is founded in 1979. In the 2004 South African group Grindrod it has acquired 50% of the capital stock of the society of bunkeraggio and in remaining 2008 50% ( on 21 April 2008).
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After the recent agreement in order to acquire from the Grindrod a participation in the terminal for coal of the port of Maputo 
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
