Chemoil
| Company type | Private (formerly public) |
|---|---|
| Industry | Oil trading, marine fuel supply |
| Founded | 1981 |
| Founder | Robert Chandran |
| Headquarters | Singapore , Singapore |
Area served | Worldwide (including Los Angeles, New York, Houston, Singapore, Panama, Amsterdam-Rotterdam-Antwerp) |
Key people | Michele J. Swanson (former president and CEO), Tom Reilly (former CEO), Clyde Michael Bandy (former chairman and CEO) |
| Products | Physical marine fuel |
| Parent | Glencore (since 2014) |
| Website | www |
Chemoil Energy Limited is an oil trading company incorporated in Hong Kong with its main office located in Singapore. It stands as one of the foremost independent suppliers of physical marine fuel worldwide, maintaining operational facilities in Los Angeles, New York, Houston, Singapore, Panama, and the Amsterdam-Rotterdam-Antwerp (ARA) area.
The company's primary operations encompass the procurement of fuel oil from diverse vendors, storage, transportation, blending, and distribution of marine fuel to oceangoing vessels, container and tanker fleets, time charter operators, as well as marine fuel merchants.
Chemoil was publicly traded on the Singapore Exchange starting 14 December 2006 before choosing to delist voluntarily in April 2014.
History
Established in California in 1981 by Indian entrepreneur Robert Chandran, Chemoil expanded its presence with offices in Houston by 1986, New York in 1997, and entered the European market through Rotterdam in 1998. In 1997, a 50% ownership interest was acquired by Itochu Corporation. The company further extended its reach by opening branches in Singapore in 2000 and Panama in 2003. In December 2009, the commodities giant Glencore acquired a controlling stake, which rose to 89.04% by 2012. Glencore Xstrata announced intentions in February 2014 to purchase the remaining shares and remove Chemoil from the SGX listing.
After the tragic helicopter accident that claimed Chandran’s life in January 2008, Clyde Michael Bandy was appointed as chairman and CEO. Having been lead independent director since August 2006, Bandy retired in 2010. Tom Reilly took over as CEO starting January 2011.
Following Glencore’s complete takeover in 2014, several senior leaders exited the firm. Reilly stepped down from his CEO role on June 30, 2014. Subsequently, Michele J. Swanson—formerly Chevron’s Senior Vice President—assumed the positions of president and CEO until her departure in 2017 after acquiring Chemoil’s subsidiary Prista Oil.