FFS Bunkers takes on BEE partner

RAY SMUTS
BARGING enterprise FFS Bunkers has entered the black empowerment arena by selling a 26% stake to KZN Oils.
The choice of KZN Oils as a BEE partner is rather apt as it has worked closely with FFS Bunkers for about five years in the supply of fuel to the National Ports Authority in the Ports of Cape Town, Durban and Richards Bay.
“We have been thinking about black empowerment for ages but could not find the right person,” admits FFS Bunkers general manager Phil Harris.
FFS Bunkers is owned by FFS Refiners in which Sasol holds a 49% stake and the Hurter family 51%.
Rajen Reddy, MD of KZN Oils, will join the FFS Bunkers board comprising Tony Hurter as chairman, his wife Diane and Andre Botha and John Trollope of Sasol.
Harris has also confirmed that the company’s Cape Town-based barge presence, consisting of the 1 300-ton Pelican, has been extended by the 200-ton bunker gas oil barge Stanley that will cater mainly to the fishing fleet.