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March 14, 2006

GAC opens Houston bunker office

GAC Group is not only one of the world's leading suppliers of shipping agency services, but among the top 20 bunker suppliers world wide.

Today it announced the opening, in Houston, of its seventh bunker office.

Lars Peter Heisselberg, Group Vice President, Shipping Services, says the Houston bunker office is the first for GAC in the Americas and takes GAC's global bunker office presence to nearly all continents.

GAC Bunker Fuels offices are now established in Houston, London, Cape Town, Cairo, Sharjah, Sri Lanka and Singapore.

Heisselberg says the choice of Houston as a new trading operation will "enable GAC to build a platform in offering worldwide bunker supplies serving the major shipping market by having experienced teams on the ground in all these regions. By doing this, we hope to raise our profile inside and outside the bunker industry and raise the bar in our levels of service."

GAC Bunker Fuels General Manager, Paul Horan says: "Our business focus in Houston is to develop relationships with our North and South American based principals in generating enquiries for GAC's core areas of supply. We will also actively promote both our American supply markets, in particular the Gulf coast ports of Houston and New Orleans, to our worldwide customer base."

"The synergies which we want to grow here will focus on the existing Hub and Agency operations already well established in this region and capitalize on the opportunities that this synergy can present. This is very similar to the synergies that GAC already has in Egypt and other Bunker Fuel offices where the established GAC presence adds discernible value to the service we provide to our principles," he added.

GAC says synergies for bunkers, hub and agency promise cost savings for all three functions.

The Houston operation, headed by Marketing Manager Antonio Rosas who has a wealth of bunker sales experience in the Americas and Europe, is seen as a natural expansion of this process.

"We offer a unique value proposition to our clients across the world where they can get uniformity in services--one world, one agent that spans many facets of shipping requirements, and finally one invoice for everything," said Heisselberg.

GAC Shipping is a leading provider of global port and hub agency services. In addition to ship's agency, its specialized services include bunker supplies, ship-to-ship transfers, canal transit and ship supply services. GAC Shipping also acts as correspondents for most International Group P&I Clubs.

GAC Shipping today represents the interests of more than 3,500 Principals worldwide and attends to over 30,000 vessels annually.

GAC has been in the business of supplying bunker fuels to global shipping since 1981. With its targeted expansion of bunker services over the years, GAC is among the top 20 bunker suppliers in the world today.

Celebrating its 50th anniversary just last month, GAC is already a leading provider of shipping agency, supply chain logistics and offshore marine support services globally. GAC has through the years been on the expansion trail of establishing bunker offices in strategic port locations around the world.

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