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Gunvor Group is now Centalion Group, and the headquarters it plans to move to Singapore is in Nicosia, not Geneva. The parent company, Gunvor Group Ltd, has been registered in Cyprus since January 2011, according to company registry data. It is wholly owned by its employees, about 60 of whom bought out co-founder Torbjörn Törnqvist in December 2025, and their partnership voted for the new name. On October 2 the company also announced a plan to make Singapore the parent’s legal home in place of Cyprus. Geneva stays. The release names Geneva and Houston as main trading offices alongside Singapore and says Chairman and Chief Executive Officer Gary Pedersen is based in Houston. Singapore is not new ground. Gunvor Singapore Pte Ltd was incorporated there in May 2006, and Clearlake Shipping, the group’s wholly owned chartering arm, in March 2011. On our reading, the new name and the planned new domicile follow from a change of ownership completed in December 2025, and the legal home would move to where the group’s shipping arm already operates. The company’s stated reasons are below, along with the steps a move out of Nicosia requires, what the tax rates show and what changes for tanker owners, charterers and lenders.
📋 In This Issue:
⚖️ The Story:
What the partners voted for, where the headquarters is, how much of the group already sits in Singapore, who owns it now, what the old name carried, what leaving Cyprus takes, what the tax rates show, where rival trading houses are registered, the Glencore precedent, the case against this brief and what the record supports
📊 By The Numbers:
The 86.1 percent stake, the 60 or so employee buyers, the loan of up to 10 years, the $144 billion of revenue, the 184 time-chartered vessels and the $1.366 billion Asian credit line
🌍 Why It Matters:
What it changes for the tanker owner and broker, the charterer and trader, the lender and the compliance officer
👀 What To Watch:
The Cyprus notices, the Singapore registration, the subsidiary names, Clearlake’s new gas carriers, the next annual results and the falsifier that would change this brief’s reading
🚨 Gosships Signal:
What the new name changes, what it leaves alone and the one tie to the co-founder that remains
