KPI Bridge Oil says it has agreed to acquire OceanConnect Marine creating a leading bunker business with 170 employees across 15 global locations. 

The deal, which is still subject to regulatory approval, will result in the formation of an entirely new brand and entity, known as KPI OceanConnect.  

“Both KPI Bridge Oil and OceanConnect have a rich maritime heritage dating back almost 50 years and a reputation for integrity and trust in the market. The new entity will benefit from numerous other synergies, bringing together a wealth of knowledge, expertise and resources,” KPI Bridge Oil said in a statement. 

The new entity will led KPI Bridge Oil’s current CEO, Søren Høll. 

“Our people remain our strongest asset and will play an important role in driving our growth strategy and delivering added value for our business partners going forward,” Høll said. “All team members will benefit from fresh opportunities, being part of an ambitious new company, and we will continue our strong focus on personal and professional development as well as on providing outstanding career opportunities globally.”

OceanConnect Marine is wholly owned by Glencore Plc.