Americas News
West Indies Petroleum Signs Caribbean Bunker Deal With Sunoco
West Indies Petroleum Limited (WIP) has signed a deal to distribute marine fuel from US energy firm Sunoco in the Caribbean.
The deal came into effect as of January 1, with WIP using Jamaica as a base to distribute marine fuels from Sunoco, the company said in a statement on its website last week.
The company's previous contracted supplier was BP, but the firm has been in discussions with other suppliers since 2022 in search of lower prices, local news provider the Jamaica Gleaner reported.
"Marine fuel transactions involve very large volumes and require significant credit capacity both from suppliers and for customers," Charles Chambers, CEO of WIP, said in the statement.
"Sunoco's scale and financial strength will allow us to offer more competitive terms to vessel operators, potentially attracting ships that currently fuel at other ports."
WIP has more than 750,000 bl of bunker storage capacity in Jamaica.
