| Endofa | |
| Industry: | Petroleum industry |
| Website: | https://endofa.com/ |
Endofa is a physical gasoil supplier and bunker trader with offices in Houston and Dubai. The company is a physical supplier and cargo trader of gasoil in West Africa, mainly from Walvis Bay and up to the Congo.[1] It is owned by three Danish partners, Kenn Soendergaard, Mads Borggaard, and Allan Frost.
As a bunker supplier and trader, Endofa reported a turnover of $235 million in January 2014, more than doubling its first-year projections.[2] The company expects to expand its current fleet of seven vessels and projects a 2014 turnover of $350 million.[2]
The company started its first physical bunker supply operation at the end of 2012.
On May 1, 2014, Endofa became the first bunker supplier in West Africa to use a mass flow meter in the transfer of bunkers.
The Bunker Control System used was provided by Insatech, consisting of a flow meter solution based on the Coriolis principle which provides correct mass measurements, temperature and density; thereby working to prevent fraudulent practices such as buy-back, bribes and signing off on false delivery notes.[3]
On May 14, 2014, Endofa has expanded its operations into Central America through a joint venture with Latin American player Uno. Product will be delivered ex-storage from Puerto Cortés, Honduras, via multi-truck setup with a flow-metered mobile pumping unit to ports on the entire coast. Endofa say they will service the area with Intertek tested and certified ISO:2005 spec RMG380 and RME180 cSt product as well as MGO (DMA).[4]
In the summer of 2015, Endofa opened a new office in Denmark. The company, founded in 2012, also has offices in Houston, France and Angola and is registered in Dubai with its current headquarters - but the company would use its Danish office as headquarters over time, as per Endofa partner Kenn Søndergaard. "Our long-term strategy is that, within the next two to four years, we'll turn the Danish office into our main offices," Kenn said in an interview with ShippingWatch.[5]
Other changes in personnel have come in the Americas, where the company recently opened up in Panama.[6]
In 2018, its Dubai office was acquihired by Bunker Holding, and the other offices were rebranded to PSTV Energy, a play on the company's tagline "Positive Energy".[7]