"LQM is one of the largest international marine fuel oil brokers who handles about 10mt per year across ~250 customers worldwide," Bunker Holding said.

"It has a strong presence in the US with offices in New Jersey, Connecticut and Texas; as well as offices in London, Paris and Singapore."

Bunker Holding chief executive Keld R Demant said the acquisition of LQM is a logical step in Bunker Holding's growth strategy and brings together two family-owned businesses with similar values and a long history of working well together.

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