Chemoil to Withdraw from New Orleans Market

Chemoil will stop supplying bunkers in the port of New Orleans at the end of December 2004. Chemoil entered this market in 1987 and the decision to withdraw has been a difficult one. In recent years the market has suffered from shrinking overall demand and at the same time has become an increasingly difficult market to supply. In addition, Chemoil’s business has suffered over the past year due to a series of highly publicized TAN claims resulting from fuel supplied to us by STUSCO. Given these circumstances Chemoil has chosen to concentrate its efforts on other supply ports and ongoing projects