BHL was a wholly owned subsidiary up until 1st December 2009 and now currently holds a 50% ownership. The Company is developing a business engaged in the trading of parcels of oil and hydrocarbon product (without taking open positions); and offering agency and handling services to various clients in the Baltic region.
The company acts as an agent, introducing clients to the terminals, and will also offer handling services to facilitate clients who wish to move their crude or product from source to the terminal prior to export.
The company has also recently commenced shipments of hydrocarbon products, using a charter vessel, on behalf of clients from the terminal to their chosen delivery point around the Baltic region. This extends the terminal transhipment services offered.
On the trading side, Pan European intends to match buyers and sellers of crude and oil products in its trading operation taking a small defined margin without taking any positions on its books and exposing itself to value at risk issues.