Marine fuel supplier charts new waters with support from HSBC UK

An international bunkering firm, which supplies fuel to the shipping industry, is set for global growth thanks to an eight-figure refinancing package from HSBC UK.

London-based Sonan Bunkers will use the renewed £50 million facility, agreed on improved terms, to establish a new office base in Central America. This marks the company’s first step into the Americas and will strengthen its presence across key global shipping routes, while also unlocking working capital to support its wider international expansion strategy.

As part of its growth, the company plans to use the funding to create two new roles in Dubai and two in Central America, with further growth expected in Greece as it relocates to a new head office in Athens. The funding will also support continued investment in operational infrastructure and alternative fuel solutions.

The business anticipates annual turnover will exceed $500 million within the next 12 months as a result of the funding.

Graham Furse, CEO at Sonan Bunkers, said: “As we continue to experience rapid growth, we’re incredibly grateful for the support from HSBC UK. The latest funding package is a pivotal step forward, enabling us to expand into the Americas – a milestone we’ve been working towards for some time.”

Andrew Noble, Corporate Banking Relationship Director at HSBC UK, added: “We’ve worked with Graham and the team at Sonan Bunkers for several years and we’re thrilled to continue supporting them as they renew their facility. At HSBC UK, we’re committed to backing fast-growth businesses with big ambitions and Sonan Bunkers is a great example of what that looks like in action.”

Founded in 2014, Sonan Bunkers operates in eight jurisdictions, including London, Athens, Rotterdam, Oslo, Rio de Janeiro, Singapore and Dubai.