Asia/Pacific News
GP Global Confirms Singapore Bunker Licence Application
After reports earlier in the year of several firms applying for a bunker licence in Singapore, GP Global has confirmed it is seeking to launch a physical operation at the world's largest bunkering hub.
The company's joint managing director, Prerit Goel, confirmed the move in an interview with price reporting agency S&P Global Platts this week.
"We are hoping it [the Singapore bunker license] goes through as it [Singapore] is a bunker paradise due to its volumes," Platts cited Goel as saying.
"We believe that there's still some money to be made there."
Singapore has recently changed some of its requirements for licence applications, and some of the applications submitted this year are understood to be longstanding applications that have been resubmitted after being amended to fit the new requirements.
In early February Reuters reported that GP Global, Mercuria and Trafigura had submitted applications in Singapore.
Last month Platts cited a source at Singapore's Maritime and Port Authority as saying the results of the applications would probably be announced in the second quarter.
GP Global is seeking to boost its bunker sales volumes by 14.2% to 5.5 million mt this year, Platts reported this week.
