Ifall goes according to plan the independent trading giant says affiliate VitolGermany will have the operation up and running by early December.
Thecompany intends to use a fleet of barges to serve customers at ports scatteredacross Wesser, Hamburg and Bremerhaven- where the group maintains terminals.
Theventure will be led by market veteran Chris Venema, who will be supported ateam that includes Tim Boegel, Marko Dragojevic and Susanne Tennert, accordingto a statement.
In2011 Vitol moved nearly 300 million tonnes of crude and boasted revenues ofaround $297bn. At any time the company says it has between 50 and 100 gasolinetankers in the water.
