Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Glencore expands Australia bunker fuel business

Published 03/06/2016, 04:16 pm
Updated 03/06/2016, 04:20 pm
© Reuters.  Glencore expands Australia bunker fuel business
GNC
-
Caltex Australia Limited
-
GLEN
-

MELBOURNE, June 3 (Reuters) - Trading giant Glencore Plc GLEN.L is expanding its oil trading business in eastern Australia, with plans to soon start bunker fuel supply operations at the Port of Brisbane, adding to operations it launched at ports in New South Wales in April.

Glencore's Chemoil unit has signed a long-term terminal storage agreement with GrainCorp GNC.AX , and from June 23 it will also offer bunkering off a barge, Valiant III, at the port of Brisbane in Queensland.

"We see a lot of potential in the east coast marine fuels market," Glencore Oil's Australia manager Brett Crawford said in a statement received on Friday.

Glencore is looking to supply ship owners, cruise lines, brokers and agents.

Rival suppliers in the marine fuels market in Australia include Caltex Australia CTX.AX and Viva Energy Australia, controlled by Vitol.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.