In the first half of 2024, TENCITY Energiehandel GmbH focused on serving our customers, giving them access to more supply locations and logistical possibilities. From the end of June, TENCITY is able to offer train sized parcels of EN 590 diesel from both Northern and Eastern German terminals and refineries. Working with the key rail logistics operators in Germany and Austria, TENCITY can now provide a multitude of rail delivery options to our customers.
TENCITY’s 1H 2024 sales highlight the significance of our foothold in the Eastern European markets. In the oversupplied market, these countries proved to be a reliable destination for diesel from Germany. We have further extended our client reach, being part of the key industry events such as the E-fuels conference, UNITI Expo, etc. To scale up our trading activities, TENCITY secured access to additional credit lines from EU and U.S.-based lenders. TENCITY will share more detail on our financial performance in the annual results brief.
Through the expansion, TENCITY and its shareholders recognize the vital importance of responsible social and corporate behaviour. 1H2024 brought the adoption of our extensive compliance framework, including policies on sanctions, ABC and KYC procedures. TENCITY is a member of Austrian Chamber of Commerce.
Dmitry Brodskiy, TENCITY’s CEO, commented: “We are proud of what we have achieved in first six months, despite challenging wholesale market conditions. Our sharp focus on diesel in the chosen market segment, combined with diligent cost-control and risk policies, paves the way for TENCITY’s further expansion.”