Vitol to face bunker fuel supply competition at Port of Brisbane
Major marine fuel suppliers in Australia will soon be competing against trading behemoth Glencore at the Port of Brisbane.
The conglomerate, with huge businesses in agriculture, mining and many other industries, has revealed it is to expand its oil trading business by starting up bunker fuel supply operations on the east coast.
It already has similar operations in New South Wales, which began trading in April of this year. It is looking to supply cruise liners, ship owners, brokers and other agents.
Vitol is currently the major player in this market in Australia, operating through its subsidiaries Caltex Australia and Viva Energy Australia.
Glencore has signed a terminal storage deal with GrainCorp. From June 23 it will also be offering bunkering off a barge, Valiant III, stationed at the Port of Brisbane.
Read the May 2016 issue of Business Review Australia and Asia magazine