World News
Gulf Petrochem Dismisses Bunker Market Exit Rumours
Neil Lamerton, Global Head of Bunkering at Gulf Petrochem, has dismissed recent market rumours that have suggested it will exit the bunker business.
"Quite the opposite, in fact," Lamerton told Ship & Bunker.
"Last year we of course opened an office in London, grew the operation in India, expanded the Singapore office and we recently bought three bunker barges in UAE."
In October last year Gulf Petrochem also appointed veteran industry expert John Phillips as its Head of Credit Risk for the Group's Bunkering division.
Lamerton said there was also more growth to come in 2016, and Gulf Petrochem would soon be announcing details of a new trading operation based out of Rotterdam.
Last month Ship & Bunker reported that the expansion of Gulf Petrochem's Fujairah terminal will begin in April 2016.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.00 | 8.50 | 779.00 | 29.50 |
| Rotterdam | 608.00 | 11.00 | 764.50 | 24.50 |
| Houston | 636.50 | 8.00 | 807.50 | 5.00 |
| Fujairah | 649.50 | 4.00 | 888.50 | 11.50 |
| Global 20 Ports Average | 665.50 | 6.50 | 870.50 | 14.50 |
| Global 4 Ports Average | 635.50 | 3.50 | 810.00 | 17.50 |
| Global Average Bunker Price | 725.00 | 2.50 | 925.50 | 8.00 |
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