Chemoil

Last updated
Chemoil Energy Limited
Type Public
SGX: AV5
Founded San Francisco, California, USA (1981)
Founder Robert V. Chandran
Headquarters Singapore
Products Marine fuel
Website chemoil.com

Chemoil Energy Limited is an oil trading company incorporated in Hong Kong and having its headquarters in Singapore. The company is amongst the largest independent physical suppliers of marine fuel products in the world. It has physical operations in Los Angeles, New York, Houston, Singapore, Panama and the Amsterdam-Rotterdam-Antwerp (ARA) region.

Contents

The company's main business is providing fueling services for ships in port. They buy fuel oil from various suppliers, transport, store and blend them and finally deliver to oceangoing ships, containers, tanker fleets, time charter operators and marine fuel traders.

It was listed on Singapore Exchange Securities Trading Limited on 14 December 2006. It was voluntarily delisted in April 2014.

History

Chemoil was founded by Indian businessman Robert Chandran in the state of California in 1981. Then it expanded the operations to Houston in 1986 and to New York in 1997. In 1997, Itochu Corporation purchased 50% of ownership of Chemoil Corporation. In 1998 Chemoil entered Europe having its office in Rotterdam. It expanded to Singapore in 2000 and Panama in 2003.In December 2009 commodities trader Glencore purchased a majority stake in Chemoil.In 2012 Glencore increased their stake to 89.04%. In February 2014, Glencore Xstrata announced plans to increase ownership to 100% and delist it from the SGX.

Robert Chandran died January 7, 2008, from injuries sustained when a helicopter he was traveling in crashed in the Riau Province of Indonesia.On January 14, 2008, Chemoil announced that they appointed Clyde Michael Bandy as its chairman and chief executive officer with immediate effect. Mr. Bandy was unanimously elected by Chemoil's board of directors to undertake the position following the death of Chemoil's founder, Robert Chandran, on January 7, 2008. Mr. Bandy has been Chemoil's lead independent director since August 31, 2006.

Mr. Bandy retired from Chemoil in 2010. Tom Reilly was appointed Chemoil's new CEO in January 2011.

Following the acquisition by Glencore in 2014, several key executives departed. In July 2014, Ship & Bunker reported that Chemoil confirmed that Reilly left his role as chief executive officer of Chemoil Corporation effective June 30, 2014. Following Mr. Reilly's departure, former Chevron Senior Vice President Michele J. Swanson became president and chief executive officer of Chemoil until her departure in 2017 after obtaining a Chemoil subsidiary, Prista Oil. [1]

Related Research Articles

Bunge Limited (BUN-ghee) is an American agribusiness and food company, incorporated in Bermuda, and headquartered in St. Louis, Missouri, United States.

<span class="mw-page-title-main">Fuel oil</span> Petroleum product burned to generate motive power or heat

Fuel oil is any of various fractions obtained from the distillation of petroleum. Such oils include distillates and residues. Fuel oils include heavy fuel oil, marine fuel oil (MFO), bunker fuel, furnace oil (FO), gas oil (gasoil), heating oils, diesel fuel and others.

<span class="mw-page-title-main">Singapore Petroleum Company</span> Singaporean oil company

Singapore Petroleum Company Limited, in short SPC, is a Singaporean multinational oil and gas company. It is involved in the exploration and production of petroleum, refining, trading and petroleum product distribution.

<span class="mw-page-title-main">Panda Energy International</span>

Panda Energy International, Inc. was an American privately held company headquartered in Dallas, Texas which constructs, maintains and operates environmentally friendly power plants. The organization has been recognised by Newsweek magazine as one of the top ten eco-friendly energy companies in America. As of 2010, it has been affiliated with Panda Power Funds. Panda Energy informed its shareholders that it would shut down at the end of 2018.

China Aviation Oil (Singapore) Corporation Ltd (CAO) is the largest purchaser of jet fuel in the Asia Pacific region and supplies jet fuel to the civil aviation industry of the People's Republic of China (PRC). CAO supplies to the three key international airport in the PRC, i.e. Beijing Capital International Airport, Shanghai Pudong International Airport and Guangzhou Baiyun International Airport, and accounts for more than 90% of PRC's jet fuel imports. CAO also engages in international trading of jet fuel and other oil products such as fuel oil and gas oil. CAO owns investments in strategic oil-related businesses, which include Shanghai Pudong International Airport Aviation Fuel Supply Company Ltd and China National Aviation Fuel TSN-PEK Pipeline Transportation Corporation Ltd.

<span class="mw-page-title-main">Peter Voser</span> Swiss businessman

Peter Robert Voser is a Swiss businessman, who is the chairman of the Swedish-Swiss company ABB. He was the CEO of the Dutch-British corporation Royal Dutch Shell from July 2009 to December 2013. He was interim CEO of ABB from April 2019 to February 2020. He started his career at Royal Dutch Shell in 1982, working in a number of finance and business roles in different countries. From 2002 to 2005 he was chief financial officer for ABB and Royal Dutch Shell. In 2004, he was appointed Royal Dutch Shell's chief financial officer (CFO) and then CEO in July 2009.

<span class="mw-page-title-main">Trafigura</span> Multinational commodity trading company

Trafigura Group Pte. Ltd. is a Singaporean-based French multinational commodity trading company founded in 1993 that trades in base metals and energy. It is the world's largest private metals trader and second-largest oil trader having built or purchased stakes in pipelines, mines, smelters, ports and storage terminals. The company operates through a complex network of over 100 subsidiaries across the world, with main operating offices in Geneva and Singapore.

Glencore plc is a Swiss multinational commodity trading and mining company with headquarters in Baar, Switzerland. Glencore's oil and gas head office is in London and its registered office is in Saint Helier, Jersey. The current company was created through a merger of Glencore with Xstrata on 2 May 2013. As of 2015, it ranked tenth in the Fortune Global 500 list of the world's largest companies. In the 2020 Forbes Global 2000, Glencore International was ranked as the 484th-largest public company in the world. As of July 2022, it is the world's largest commodity trader.

<span class="mw-page-title-main">Viterra</span> Multi-national agricultural company

Viterra began as a Canadian grain handling business, the nation's largest grain handler, with its historic formative roots in prairie grain-handling cooperatives, among them the iconic Saskatchewan Wheat Pool. Viterra Inc grew into a global agri-business with operations in Canada, the United States, Australia, New Zealand and China. Viterra operated three distinct, inter-related businesses: Grain Handling & Marketing, Agri-Products and Processing, enabling it to generate earnings at various points on the food production chain from field to the table. Following its $6.1-billion acquisition by Glencore International, on 1 January 2013, Viterra was merged with Glencore purchaser, 8115222 Canada Inc., headquartered in Rotterdam, the Netherlands.

Robert Viswanathan Chandran was an Indian-born Singaporean business executive, and the founder and CEO of the Chemoil company.

<span class="mw-page-title-main">Mercuria</span> Multinational commodity trading company

Mercuria Energy Group Ltd is a Cypriot-domiciled French multinational commodity trading company active in a wide spectrum of global energy markets including crude oil and refined petroleum products, natural gas, power, biodiesel, base metals and agricultural products. The company is one of the world's five largest independent energy traders and asset operators and is based in Geneva, Switzerland, with 37 additional offices worldwide. The group operates in 50 different countries.

<span class="mw-page-title-main">Gunvor</span> Cypriot-registered Swiss commodity trading company

Gunvor Group Ltd is a Cypriot-domiciled multinational commodity trading company registered in Cyprus, with its main trading office in Geneva, Switzerland. Gunvor also has trading offices in Singapore, the Bahamas, and Dubai, with a network of representative offices around the globe. The company operates in the trade, transport, storage and optimization of petroleum and other energy products, as well as having investments in oil terminal and port facilities. Its operations consist of securing crude oil upstream and delivering it to market via pipelines and tankers.

Vitol is a Swiss-based Dutch multinational energy and commodity trading company that was founded in Rotterdam in 1966 by Henk Viëtor and Jacques Detiger. Though trading, logistics and distribution are at the core of its business, these are complemented by refining, shipping, terminals, exploration and production, power generation, and retail businesses. Vitol has 40 offices worldwide and its largest operations are in Geneva, Houston, London, and Singapore.

Franco-Nevada Corporation is a Toronto, Ontario, Canada-based, gold-focused royalty and streaming company with a diversified portfolio of cash-flow producing assets. It is traded on the Toronto Stock Exchange and New York Stock Exchange.

<span class="mw-page-title-main">Minerva Bunkering</span> Petroleum refining and trading company

Minerva Bunkering is a supplier of marine fuels and bunkering services headquartered in Geneva, Switzerland. It was founded in 2019 as a wholly owned subsidiary of Mercuria Energy Group. It quickly absorbed the larger Aegean Marine Petroleum Network (AMPNI), a public company listed on the New York Stock Exchange, when Aegean was acquired by Mercuria, and Minerva Bunkers, another subsidiary of Mercuria founded in 2014

Algonova was a single-hulled oil tanker launched in 1969 as Texaco Chief for Texaco Canada Ltd. In 1986, the ship was renamed A. G. Farquharson. In 1995 the ship was sold to Imperial Oil. Purchased by Algoma Central in 1998, the ship was renamed Algonova. In 2007, Algoma Central sold the vessel to Belgrave Investors Corporation, which renamed the vessel Pacifico Trader. Helmer Business Incorporated acquired the vessel in 2012 and renamed the ship Great Portobello. The vessel is currently in active service.

United Shipping & Trading Company (USTC) is a family-owned global group of companies headquartered in Middelfart, Denmark. USTC holds a portfolio of activities that includes oil & energy, shipping & logistics, ship owning, risk management, car activities, IT, sustainable energy, and environment & recycling. The USTC Group is represented by more than 140 own offices in 40 countries and has more than 4,000 employees (2022). The largest company in the group is Bunker Holding, the world's leading company in bunker trading and the parent company of several autonomous bunker fuel companies around the world. Other USTC companies are SDK FREJA, Uni-Tankers, Selected Car Group, Unit IT and CM Biomass, among others.

Gulf Petrochem Group is a company operating in the downstream and midstream sectors of the oil and energy industry. It has six divisions in Oil Trading and Bunkering, Oil Refining, Grease Manufacturing, Oil Terminals, Bitumen Manufacturing, and Shipping and Logistics.

Aristotelis Mistakidis is a Swiss-based Greek metals trader who became a billionaire working for Glencore. He has joint Greek/British citizenship.

VARO Energy (VARO) is an energy company headquartered in Zug, Switzerland. It operates in manufacturing, storage and distribution, marketing and trading, with businesses in biofuels, green hydrogen, biomethane & bio-LNG, nature-based carbon removals and e-mobility. The company is focused on the Benelux countries, Germany, France and Switzerland. VARO Energy’s shareholders include the global Investment firm, Carlyle and the global energy and commodities company, Vitol. The company CEO is Dev Sanyal.

References

  1. "CEO Tom Reilly Leaves Chemoil". Ship & Bunker.