Flota Petrolera Ecuatoriana (Flopec) is reaching out to the market in an exploration of “strategic alternatives” as it aims to expand its fleet.

The tanker and LPG carrier operator, which is controlled by Ecuador’s government, has tapped an investment banking division of DVB Bank as its exclusive financial advisor in the effort, according to a notice that Flopec has been circulating around the market.

Flopec