Shipoil Ltd

What Shipoil Ltd does

Shipoil Ltd is a privately held marine fuels and lubricants trading house headquartered at 99 Kolokotroni Street in Piraeus, Greece. Founded in 1977 by Christos Tsoris (formerly of Petrola, the J. Latsis Group refinery) as INTERSHIPOIL and renamed Shipoil in 1982, the company has operated continuously for over 45 years as a bunker and lubricants trader serving the global maritime sector. The firm is family-controlled, with Christos Tsoris as General Manager and Alberto and George Tsoris in sales and operations roles. Shipoil's core business is the worldwide trading and supply of marine bunker fuels (meeting ISO 8217:2005/2010 specifications), lubricants (in bulk and drums), and specialized fuel services for yachts and offshore vessels. The company maintains its own shipping agency in Greece (established 2002) covering all Greek ports and leverages a global network of agents plus long-term contracts with refineries and physical suppliers to hold own-stock inventory at multiple ports. Additional offerings include Risk Management services via Fixed Price Agreements for price hedging and a dedicated Offshore Supply vertical targeting PSVs, AHTS, exploration vessels, and cable layers. The company is a member of IBIA (International Bunker Industry Association) and advertises 24/7, 365-days-per-year service coverage.

The company's revenue model is transaction-based across five streams: Bunker Trading (spot pricing and contracts), Lubricants Supply (bulk and drums), Yacht Fuel Services (including duty-free fuel where possible), Risk Management (Fixed Price Agreements), and Shipping Agency (commissions/fees). Pricing is quote-based and not publicly disclosed. Go-to-market is a sales-led, relationship-driven model with direct contact from named executives, supplemented by a worldwide agent network acting as channel partners and refinery-supplier partnerships that provide inventory at coordinated ports. Customer segments are horizontal across maritime: ship owners, operators, charterers, ship managers, offshore vessel operators, and yacht owners/charterers, all categorized as enterprise buyers. The company employs approximately 16 people and has raised no external funding, operating as a self-funded, family-owned private limited company domiciled in Greece.

Name

Shipoil Ltd

Legal name

Shipoil Ltd

Website

https://shipoil.com

Company type

Private

Founded year

1977

Operating status

Operating

Headcount range

11–50 employees

Short description

Shipoil Ltd is a privately held, family-owned marine fuels and lubricants trading house headquartered in Piraeus, Greece, serving global ship owners, operators, charterers, offshore vessel operators, and yachts with bunker fuel, lubricants, and shipping agency services since 1977.

Ownership category

akta.pro rank

Product category

Marine Bunkering Services

NAICS

Support Activities for Water Transportation (4883)

SIC

Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172), Arrangement Of Transportation Of Freight & Cargo (4731)

akta.pro primary industry

Conventional Marine Fuel Bunkering (HFO/VLSFO/MGO/ULSFO) (TLAHAKAA)

akta.pro secondary industries

Marine Lubricants Supply & Services (Cylinder/System Oils) (TLAHAKAJ), Marine Lubricants (IMAEAMAM), Marine & Offshore Lubricants (Cylinder Oils, System Oils, EALs) (EUALAJAI)

Keywords

• Marine bunkering services
• Marine fuel trading
• Lubricant supply
• Offshore vessel supply
• Shipping agency services

Headquarters

HQ city

Piraeus

HQ country

Greece

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Bunker Trading: Shipoil trades and supplies bunker fuels (fuel oil) to vessels worldwide, providing spot prices at all ports and fuel oil contracts. Revenue generated from the markup on fuel products sold to ship owners, operators, and charterers.
2. Lubricants Supply: Supply of approved lubricant brands on a worldwide basis, both in bulk and drums, leveraging the worldwide bunkering network to provide competitive prices and service.
3. Yacht Fuel Services: Premium fuel services to privately owned or chartered yachts worldwide, including duty-free fuel when possible.
4. Risk Management / Fixed Price Agreements: Hedging services allowing clients to lock bunker prices and minimize exposure to oil market volatility.
5. Shipping Agency Services: Own shipping agency established in Greece (2002) providing loading/discharging services at Greek ports and bunker-only calls, with commissions or fees for agency services.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Shipoil Ltd trades and supplies marine bunker fuels (fuel oil) and lubricants worldwide to ship owners, operators, charterers, and managers, with guaranteed quality meeting ISO 8217 specifications. Beyond fuel trading, the company delivers offshore vessel supply, premium yacht fuel services, Fixed Price Agreement risk management, and shipping agency services across all Greek ports via its in-house agency. The business operates 24 hours per day, 365 days per year, leveraging long-standing refinery-supplier relationships and a global agent network.

Product overview

Shipoil Ltd is a global marine fuels and lubricants trading house offering a comprehensive portfolio of bunkering products and services. The core offerings include Bunkers (marine fuel with ISO specifications), Lubricants (worldwide lubricant supply), Yachts (premium fuel services), and Offshore Supply (for offshore vessels). Additional services include Risk Management (Fixed Price Agreements for price hedging) and Shipping Agency (port agency services in Greek ports and globally). The company operates 24/7 worldwide, supplying vessel owners, operators, charterers, and managers with quality products at competitive prices since 1977.

Differentiator

Problem solved

Functional benefit

Products and services

• Bunkers Marine bunker fuels supplied worldwide to ship owners, operators, charterers, and managers. Quality meets ISO 8217:2010 or ISO 8217:2005 specifications, with spot pricing at all ports, own stock at coordinated refinery-supplier ports, and fuel oil contracts available.
• Lubricants Worldwide supply of approved lubricant brands in bulk or drums, leveraging Shipoil's worldwide bunkering network to deliver competitive pricing and 24/7 availability, ensuring product quality and best options for customer needs.
• Yachts Premium fuel services for privately owned or chartered yachts worldwide, offering competitive prices, duty-free fuel when possible, and expert consultation for optimal fuel supply solutions.
• Offshore Supply Offshore supply services for exploration vessels, PSVs (Platform Supply Vessels), AHTS (Anchor Handlers), stand-by vessels, cable layers, and all offshore vessel types, providing competitive pricing, quality products, and reliable service worldwide.
• Risk Management Fixed Price Agreements designed to protect businesses from market volatility by locking bunker prices, enabling cost predictability and minimizing exposure to oil market fluctuations.
• Shipping Agency Shipping agency services established in 2002 for all Greek ports, providing loading/discharging operations and bunker-only calls with efficient, cost-effective, and time-sensitive solutions, plus global agent relationships for worldwide supply control.

Quantifiable outcome

• 24 hours per day, 365 days per year service availability
• +1 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• NKS Shipping AgencycoreChannel Partner/ Reseller/ Distributor · 1 January 2002NKS Shipping Agency is the appointed agent for Piraeus port operations, providing calling instructions, pre-arrival documentation, and customs declarations for vessels calling at Greek ports.
• IBIA (International Bunker Industry Association)coreOthersShipoil is a member of IBIA, the International Bunker Industry Association, which is a key industry body representing bunker suppliers, traders, and professionals worldwide. Membership provides industry recognition and networking within the global bunkering sector.
• Local Refinery-SupplierscoreStrategic or Co-development PartnerShipoil maintains excellent relationships with refineries and physical suppliers worldwide, using their storage tanks for own stock of bunker products at a number of ports. Strong long-term contracts enable competitive pricing and reliable supply.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Bunker Holding: World's largest bunker group, operating multiple trading brands (e.g., TF Marine, Titan Supply) globally with owned barges and physical infrastructure. Competes directly with Shipoil in marine fuel trading but at materially greater scale and asset intensity.
• World Fuel Services: Large publicly-listed global fuel and energy distributor with a substantial marine bunker segment. Overlaps with Shipoil in marine fuel trading but operates at vastly greater scale, broader geographies, and through owned physical infrastructure.
• TotalEnergies Marine Fuels: Integrated oil major's marine bunker division offering conventional and increasingly alternative marine fuels globally. Competes with Shipoil for marine fuel contracts at ship-owner level while also being a potential supplier partner to small traders.

Direct peers

• Cockett Marine Oil: Independent global bunker and lubricant trader serving ship owners and operators across major ports. Comparable to Shipoil in trading-house model, product portfolio (marine fuels, lubricants), and relationship-led sales approach.
• Minerva Bunkering: Marine fuels and lubricants trader with physical supply capabilities across major Mediterranean and international ports. Closely comparable to Shipoil in geographic focus, customer base and core product mix.
• KPI OceanConnect: Marine fuel supplier focused on transparent, digital-first bunker procurement for shipowners, offering a similar product mix (bunkers, lubricants, risk management). Directly comparable as a mid-sized competitor blending traditional trading with platform technology.
• Monjasa: Global bunker trading and ship-to-ship supply specialist with a portfolio similar to Shipoil's across marine fuels, lubricants and offshore supply. Operates with a comparable trading-house structure serving ship owners and operators worldwide.
• Peninsula Petroleum: One of the world's largest independent bunker fuel traders, supplying marine fuels and lubricants to ship owners and operators globally with a similar trading-house model. Directly comparable to Shipoil in product offering (bunkers, lubricants, risk management), customer base, and geographic reach strategy.
• Aegean Marine Petroleum Network: Marine fuel logistics company with strong Piraeus/Greek roots and global physical supply capabilities. Closest peer to Shipoil in terms of Mediterranean heritage, bunker trading focus, and service breadth.

Others

• VPS (Veritas Petroleum Services): Independent fuel quality testing and bunker quantity survey provider critical to the marine fuel supply chain. Adjacent ecosystem player—Shipoil competes on quality assurance but VPS supplies the verification infrastructure underpinning ISO 8217 compliance.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/shipoil-ltd

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shipoil Ltd