Dubai Appointment
Sonan Bunkers has announced the appointment of Nazrin Farook as bunker trader in its Dubai office, effective August 1. Farook comes from a role as business development executive for LNG & alternative fuels at Petronas Marine, PETCO. His experience, coupled with his innovative approach, will significantly enhance the trading capabilities of Sonan Bunkers. A company representative mentioned their excitement related to the addition of Farook to the team.
PC: Cyprus Shipping News
Strategic Expansion and Finance Support
Sonan Bunkers is currently undergoing aggressive expansion, which has been further fueled by securing significant new finance facilities with HSBC. The UK-based supplier of bunkers secured a £50 million finance package with the bank, including a pivotal £20 million uplift in Receivables Finance. This cash injection will be used to release working capital and support the company’s growth initiative and strategic expansion plans.
On appointment, Farook will be joined at Sonan Bunkers by new trading manager Guyson Kang, based in Dubai since early this month. This leadership, coupled with the recent recruitment of four Senior Traders, shall further diversify the company’s customer base and improve sales outlook for 2024 and 2025. These strategic hires underline Sonan Bunkers’ commitment to its geographical expansion and optimally trading its operations.
Future Outlook and Strategic Developments
This major package of financing from HSBC UK will support the increased volume of sales and continuation of the firm’s growth trajectory. The funding supports Sonan Bunkers’ ambitious global expansion strategy. Some of its key components include the setup of new refueling stations in the Mediterranean by cloning the successful Rotterdam bunker barge model. The expansion plans will satisfy new and old clients alike, which is sure to solidify Sonan Bunkers’ position in the marine fuel industry.
From 2014, when it was established, Sonan Bunkers has been expanding its operations in the key markets of London, Athens, Rotterdam, Oslo, Rio de Janeiro, Singapore, Dubai, and Copenhagen. In light of this, the recent developments in financing and expansion of operations are huge strides for the company. These developments point to a continuous desire by Sonan Bunkers to provide quality fuel and energy solutions to the shipping industry around the world while pursuing growth and positioning in the marketplace in a responsible manner.
This is great support from HSBC UK for the business model and prospects in the future that Sonan Bunkers holds. The company will stay sharply focused on the attainment of excellence in the global marine fuel sector and continue on its growth path as it expands and increases its service offerings.
