GP Global

Aurora Marine Fuels Hired a Credit Manager from GP Global

Bunker supplier Aurora Marine Fuels has hired a credit manager from GP Global.

Himanshu Chopra, based in London, has joined the firm as of this month as credit manager, he told Ship & Bunker last week.

Next Stage of Growth

Chopra was previously global lead for marine credit risk management at GP Global.
“I am excited to be joining Aurora Marine Fuels as they embark on their next stage of organic growth,” Chopra said.

“The team has so far developed a niche book in a difficult trading landscape and...

https://mfame.guru/aurora-marine-fuels-hired-a-credit-manager-from-gp-global/

Commodity Trading Firm Sells Assets As Part of Its Restructuring Plan

GP Global sold its bitumen complex in Hamriyah, with its other UAE storage facilities lined up for sale, reports Argus Media.

Bitumen complex sold out

According to market participants, Dubai-based commodity trading firm GP Global has sold its bitumen complex in Hamriyah, with its other UAE storage facilities lined up for sale as part of the company’s debt restructuring plan.

About bitumen plant sale

The Hamriyah bitumen plant, which includes a production unit and a 36,000t storage terminal for the...

https://mfame.guru/commodity-trading-firm-sells-assets-as-part-of-its-restructuring-plan/

GP Global’s Restructuring Leaves Bunker Market Tight

GP Global sells its Fujairah terminal leaving the bunker market tight, reports Ship & Bunker.

GP Global’s restructuring 

Troubled Middle East bunker supplier GP Global’s exit from the regional bunker market has left UAE’s Fujairah bunkering hub tight.

GP Global as a part of its restructuring plans, sold its Fujairah terminal.

Stuck bunker fuel 

According to S&P Global Platts, a sizeable volume of bunker fuel is stuck in the terminal’s tanks as talks progress.

According to a bunker supplier, “I’m not...

https://mfame.guru/gp-globals-restructuring-leaves-bunker-market-tight/

ExxonMobil Sues GP Global for 2.8$ Million Bunker Claim

  • ExxonMobil Asia Pacific Pte. Ltd., is in the midst of a bunker claim against GP Global APAC Pte. Ltd. at the High Court of the Republic of Singapore.
  • It is seeking a total bunker claim of USD 2.8 million from 13 invoices; seven are under a Term Sales Contract entered and six are under Spot Contracts.

ExxonMobil Asia Pacific Pte. Ltd., a supplier of marine fuels at Singapore port, is in the midst of a bunker claim against international bunker trading firm GP Global APAC Pte. Ltd. at the High...

https://mfame.guru/exxonmobil-sues-gp-global-for-2-8-million-bunker-claim/

Tanker Seized Over $2 million Loan Default

According to a Reuters report, an Indian court has ordered the seizure of a tanker belonging to Dubai-based oil trading firm GP Global after a petition from UAE lender National Bank of Fujairah over loan default, a court document showed.

What happened?

The Gujarat High Court directed the authorities of Pipavav Port on Sept. 9 to seize the company’s bunkering tanker, GP B3, and detain it until a further court order or until the outstanding loan amount of just over $2 million is paid, a court...

https://mfame.guru/tanker-seized-over-2-million-loan-default/

GP Global Kick Starts Jebel Ali Bunkering Operation

  • Energy company GP Global has launched a new bunker supply operation at the port of Jebel Ali in the United Arab Emirates.
  • The company has deployed two of its wholly owned barges for the operation which will deliver MAROPOL and ISO-compliant distillate marine.
  • The strategic location of Jebel Ali Port will catalyse the bunkering business, given the effortless connectivity that the port offers in linking South Asia, North America and the Middle East.

GP Global has today announced the expansion of...

https://mfame.guru/gp-global-kick-starts-jebel-ali-bunkering-operation/

GP’s Maiden Compliant Fuel Delivery in Fujairah

Oil trader and bunker provider GP Global delivered its first barge of compliant low-sulphur fuel oil into Fujairah in the United Arab Emirates, reports MarineLink.

Delivery at the main hub

The company delivered a 6,000-tonne bunker barge at the port, a main hub in the Mideast Gulf region for bunker operations.

IMO sulphur regulation

According to International Maritime Organization regulations, from the start of 2020:

  • all ships will be required to burn fuel with maximum 0.5% sulphur, down from 3.5%...

http://mfame.guru/gps-maiden-compliant-fuel-delivery-in-fujairah/

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