World News
GP Global, Cepsa Ink India Lubes Production Deal
GP Global and Cepsa today say they have entered into an exclusive partnership that will see GP Global produce and market the Spanish oil major's marine and power generation lubricants in India.
"In recent years, India has experienced huge growth in ports modernization and coastal shipping development programs, which have been supported by our government. The partnership with CEPSA reinforces GP Global's contribution towards the 'Make in India' initiative," said Mr. M Prabakaran, Global Head of Terminals & Country Head, GP Global Group, India.
Cepsa VP – Marketing, Álvaro Díaz Bild, noted that this will mark the first time his company's lubricants will be produced outside its plants in Spain.
"The partnership with GP Global will provide the necessary framework to enter into the Indian market as the company has wide experience in the marine market, especially in bunkering," said Carlos Giner, Director of Lubricants, Base Oils and Paraffin Waxes, Cepsa.
GP Global Energy will be manufacturing the Marine lubricants through a contract with its group company GP Petroleums Limited in their plant at Vasai, Mumbai, which is already engaged in blending Automotive and Industrial lubricants.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 644.50 | 2.50 | 765.00 | 14.00 |
| Rotterdam | 607.50 | 0.50 | 764.50 | 24.50 |
| Houston | 632.50 | 4.00 | 807.50 | 5.00 |
| Fujairah | 650.50 | 1.00 | 882.50 | 6.00 |
| 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 |
Popular Now More
-
Apr 19The firm has chartered the 7,994 DWT barge Margherita to add to the operation, operated by Fratelli Cosulich. -
Apr 18Singapore's authorities are in the process of developing a regulatory framework for a methanol bunkering licence, and plan to call for applications for the licence by the end of this year. -
Apr 19The company is looking for candidates with proven experience in bunker trading and demonstrated leadership experience.