EMEA News
GAC Bunker Fuels in Exclusive South African Partnership with ENOC
The Gulf Agency Company (GAC) Tuesday announced that GAC Bunker Fuels (GBFL) and ENOC Global Marine (ENOC Marine) have signed an agreement that will see GBFL become the exclusive sales agent and distributor for its marine lubricants in South Africa.
GAC says the new partnership will contribute to increasing the GBFL's vessel delivery by 300,000 litres per year.
"ENOC is an exceptionally strong brand in the Middle East, and their business ethics and values are very similar to GAC's," said Nicholas Browne, GAC Bunker Fuels Director.
"Sales and distribution is a logical extension to GAC's existing service offering, and it meets a very real need. We're excited to see this partnership develop and open new avenues of growth for both parties."
The deal is said to be the first time that GBFL has been selected to supply sales and distribution for a lubricants manufacturer, a milestone to which it credits its "extensive logistics expertise, strong agency network, and experienced bunker fuels team."
GAC further notes that it has long time relationships with marine spare parts buyers that work with clients with bunker fuels needs.
"This newly forged collaboration with GAC presents ample opportunity for us to expand our network and cater to the ever evolving needs of our customers," said Zaid Alqufaidi, Managing Director of ENOC Marketing.
GAC explains that GAC Marine Logistics (GML) will manage all logistics work and inventory management services, while GAC Dubai will arrange lubricant freight from the UAE to the South Africa's Port of Durban.
Through GAC's supply chain and ENOC's marine products, the deal is said to provide ship owners and operators with "quality service at a competitive price."
GAC says that it expects the marine lubricant market to expand over the next few years, while cost pressures will encourage manufacturers to seek sales partners can enhance their logistical efficiency, reducing overhead in the process.
Last September, Ship & Bunker reported that state-owned Emirates National Oil Company (ENOC), in an effort to support the company's international operations, sent a number of its high level executives to its "key market" in Singapore to "evaluate business growth and expand the company's footprint."
