Island Oil celebrates this year thirty years of continuous and highly successful global activity in physical bunkering and marine fuel trading with a series of events. The first event was held at the Athenian Riviera, where company executives welcomed associates, shipping industry executives and media representatives to an evening of glitz and pride for Island Oil’s significant achievements up to date.
“Beyond an opportunity for celebration, we consider these events to be an opportunity for contemplation. We wish to contemplate what we have done well and what we can do better”, stated Chrysostomos Papavassiliou, CEO and founder of Island Oil.
Island Oil was founded in 1992 in Limassol, Cyprus, as an International Bunker & Lubricant Trader and through a dynamic course of development today has offices in eight countries and a strong imprint in the international market. The company’s office in Greece was established 1999 and today Island Oil also has office presence in Romania, Singapore, Israel, UK, China and Ukraine.
“We wanted to start our celebrations from Greece. After all, this is where we opened our first office outside Cyprus and I want to express my thanks and gratitude to all the good associates we have had all these years”, Mr Papavassiliou added.
With over 120 on-shore staff in 8 countries and 150 seafarers, with 12 owned vessels and 3 physical supply stations in Cyprus, Israel and Romania, Island Oil’s 30 years of operation is not just a story of a company growing steadily, but also of a company giving back to its people and to society, and promoting sustainable and humane growth.
In this direction, listening to the needs of today but also to the challenges of tomorrow, Island Oil Group recognises the need to reduce its carbon footprint and gradually disengage from fossil fuels. To this effect the group is exploring the possibility of offering alternative and more sustainable fuels solutions in the near future and is collaborating with a research group that is exploring hydrogen as an alternative fuel for the shipping industry. It has also invested in a joint venture researching ways of introducing biomethane as fuel in industrial plants, small ships, vehicles etc.
“We aim to increase the number of clients by 20% within the next 3 years and increase our volumes to 3,000,000 mt by 2026”, said Mr Papavassiliou, outlining Island Oil’s business goals for the coming years.
The company’s 30 years celebration events will continue in Cyprus on September 23, and in Singapore on October 6.
For more information about the company, visit https://www.island-oil.com