Pakistan’s Ocean Bunkers wants to expand beyond Karachi into UAE
Ocean Bunkers, which currently supplies marine fuels to vessels at Karachi and Port Qasim ports in Pakistan, plans to expand its physical supply operations to the UAE.
The plans were revealed by CEO Muhammad Yousuf in an interview with S&P Global Platts.
"We have been granted a new license and have established a new subsidiary called Ocean Straight Run Fuel Supply Services LLC [OSRFSS], Dubai, UAE. Operations in our new Dubai office will commence from July 1," he said.
The OSRFSS subsidiary will supply bunker fuel to several UAE ports and areas such as Jebel Ali Port, Port Rashid, and Hamriya Port.
Supply for the UAE will comprise low sulfur marine gasoil, marine gasoil, IFO 180 CST and IFO 380 CST, Yousuf said.
"In the beginning, we will supply only at the berth in the above ports," he said, adding that Ocean Bunkers anticipated a doubling of its sales revenues. The company owns and operates four self-propelled bunker barges.
The company's bunker sales in 2017 were about 40,000 metric tonnes.
"For Pakistan, we will try to meet bunker sales of 40,000 metric tonnes again for 2018. For the UAE market, we will try to achieve 100,000 metric tonnes in bunker sales this year," he added.
Ocean Bunkers currently supplies LSMGO, MGO and IFO 180 CST marine fuel in Pakistan.