GB Global, the Dubai-based company with bunkering operations in the Middle East, Indian Subcontinent, Far East and Europe, is expanding its international network while getting prepared to adopt the new IMO sulfur requirements prior to the agreed deadline.
In order to be able to supply its customers bunker fuels compliant with the IMO 2020 and establish its market share in this new market, the company is strengthening its infrastructure, hiring new traders and scheduling the supply of VLSFO later this year.
As a result, the Group is growing its time-chartered fleet of barges in Rotterdam/ North Europe, planning to build a fleet which will be able to accommodate a capacity of up to 100,000 tons per month, in order to take advantage of opportunities that the company sees in the ARA region. The company has also restarted its trucking business to move fuel oil and MGO in major ports in the United Arab Emirates, in an effort to increase the group’s market share in this region, while there is also under consideration a plan for the company to enter the bunker fuel market in America. Furthermore, the hiring of twelve new traders has been announced recently. With these new additions, that will staff the company’s offices in Singapore, London, Geneva, Rotterdam, Mumbai and Dubai, GB Global will consist of a team with more than 50 bunker traders.
According to the Group Director, Prerit Goel, the company is expected to be ready in April 2019 to offer 0.5% sulfur fuel oil to its customers in major bunkering ports and at physical delivery points of Rotterdam, Fujairah and Singapore. The supply of those fuels, at such early stage, will help the company’s customers to plan their voyage economics and test the fuel compatibility, Goel added.
The group notes that the delivery of very low sulfur fuel will be expanded to various smaller ports, where the company is physical supplier, by the fourth quarter of 2019. GP Global, further, explains that its supply systems at all ports will also include 3.5% fuel oil (HSFO) and marine gasoil (MGO).
Moreover, the company also plans to enhance its position in the lubricants market, by introducing specific lubricant products that will conform with the changes in fuel specs introduced by the IMO 2020 regulations and, subsequently, the company also plans to grow its team with more lubricant traders.
“The upcoming IMO 2020 restrictions on burning high sulfur marine fuels will radically alter the landscape in bunkering, not just for supplying and trading the product but for credit, technical and compliance as well”, Prerit Goel had mentioned in a statement a few months ago. “It is a very exciting time”, he concluded.