ChemoilAdani achieves encouraging growth in Mundra Port

SGX Mainboard-listed Chemoil (SGX-ST: CHEL.SI), one of the world’s leading physical suppliers of marine fuel products, today announced that its joint venture supply service with Adani Enterprises Limited (NSE: ADANIENT) in India has experienced encouraging sales and growing demand within its first three months of business. Monthly sales volumes from ChemoilAdani’s operations at Mundra Port reached a record level of 50,000 metric tons (mt) in March 2009. With the Indian bunker market for international ships averaging less than 1 million mt per year, the latest volume figures represent a sizable market share, which is expected to increase.