Mercuria CSR Report 2020 - Flipbook - Page 20
GOVERNANCE & ORGANIZATION
energy space.
Minerva Bunkering operates from its trading hubs in Switzerland, ARA (Amsterdam, Rotterdam, Antwerp), Greece,
Canary Islands, Singapore, and New York. The company is able to utilize Mercuria’s global network of business
which is active globally to ensure quality product, efficient logistics and competitive pricing.
By early 2020, our operations are spread across 50 countries, and cover 150 ports including our global trading
network. With a fleet of 46 vessels and 2.8M cubic meters (cbm) of storage capacity dedicated to bunkering,
Minerva has the capacity to serve its clients on a global scale.
Minerva has both a global perspective as well as local insight into real time market dynamics that add value for its
customers. With many years of experience in ship fuel management, the Minerva team has in-depth awareness of
market fundamentals and developments.
The introduction of new “International Maritime Organization 2020 (IMO 2020)” regulations in January 2020 that
cut the permitted amount of Sulphur in bunkering fuel to 0.5% will only accelerate this consolidation process. With
its global reach and extensive knowledge of crude and fuel oil markets from its own trading activities, Mercuria was
able to successfully navigate through the introduction of these new regulations despite the subsequent volatility in
fuel prices that resulted.
ENERGY MIX
Gas represented constantly over half of our traded volumes since the mid 2010’s and over two thirds in the past
three years.
PRODUCTS
Liquids
Gas, Power and
Carbon certificates
Metal & Mining
TOTAL
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
100%
100%
100%
100%
95%
90%
80%
72%
47%
51%
39%
28%
33%
36%
26%
25%
26%
0%
0%
0%
0%
5%
10%
18%
23%
46%
41%
53%
65%
61%
56%
69%
69%
67%
0%
0%
0%
0%
0%
0%
2%
4%
7%
8%
8%
6%
6%
7%
5%
7%
7%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
We acknowledge the importance of gas in the energy transition both as a replacement for higher carbon emission
fuels and as a back-up for renewables. Beyond internal growth, particularly in Europe, the acquisitions in the US
of JP Morgan’s gas activities and more recently Noble US Power & Gas were important steps in the development
of our gas activities. We also opened an LNG desk out of London in 2019 to complement our existing gas trading
business both in the US and in Europe.
The two charts below illustrate both the growth of our trading volumes since inception and, bearing in mind the
objective of shifting towards energy transition, the relative evolution in our traded energy mix towards more non-oil
products.
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