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GP Global engages restructuring specialists following credit pull and internal fraud

FTI Consulting’s Rod Sutton is Chief Restructuring Officer and will work with restructuring specialist firm Quantuma to navigate the group’s current challenges.

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UAE-based oil and bunkering firm GP Global on Wednesday (5 August) appointed FTI Consulting’s Rod Sutton as Chief Restructuring Officer and has engaged UK- based financial restructuring specialist firm Quantuma, as part of its ongoing restructuring exercise.

Sutton is a highly reputed global corporate restructure specialist with over 25 years of experience in business advisory and management, it said. 

He specialises in problem resolution that requires discovery of facts and interpretation of commercial issues and is globally recognized for this ability to cut through the relevant issues to provide expert financial opinions, commercial options and recommendations to his clients.

Quantuma is an independent advisory firm that provides expert advice on business transactions, assists in resolving disputes and helps organizations and individuals to overcome a range of operational and financial challenges, noted GP Global.

Sutton will work closely with Quantuma to engage with GP Global Group’s stakeholders to protect the commercial interests of the group’s valuable clients.

GP Global Group said it hopes the two will help transform the group into a strong, financially prudent and future ready corporation with enhanced transparency.

“GP Global Group, Quantuma and Mr. Sutton will keep the group’s key stakeholders informed with relevant information with respect to the restructuring exercise and look forward to navigating the group’s current challenges in an open, transparent and mutually beneficial way,” concluded the company. 

Related: GP Global internal investigations reveal Sharjah and Fujairah staff involved with fraud
Related: GP Global repudiates rumours and proceeds with restructuring as strategic move


Photo credit: GP Global
Published: 6 August, 2020

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Mass Flowmeter

Ceuta becomes first Mediterranean port to mandate certified MFMs for STS bunkering

Port Authority of Ceuta has implemented the mandatory use of international ISO 22192 certified and calibrated Mass Flow Meters for marine fuel supply by barge, effective February 2025.

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Ceuta becomes first Mediterranean port to mandate certified MFMs for STS bunkering

The Port Authority of Ceuta on Wednesday (12 February) said it has become the first Mediterranean port to mandate the use of international ISO 22192 certified and calibrated Mass Flow Meters (MFMs) for marine fuel supply by barge, effective February 2025.

It said the device ensures a much more precise marine fuel measurement, providing greater transparency and efficiency. 

“The MFM allows the collection of the most accurate and extensive real-time data on the amount of product being transferred, reducing the margin of error and improving traceability in supply operations,” the port authority said in a statement. 

“The implementation of this technology will minimise discrepancies and disputes between suppliers and shipowners regarding the amount of fuel received, ensuring more reliable and efficient management of bunkering operations.”

“Furthermore, waiting times will be reduced, and productivity will increase, making the Port of Ceuta more competitive and profitable for all the stakeholders.”

Ceuta becomes first Mediterranean port to mandate certified MFMs for STS bunkering

It added introducing the requirement for all deliveries to use MFMs reinforced Port of Ceuta's commitment to the modernisation and digitalisation of the bunker sector, aligning with the demands of the global market and contributing to the sustainability of maritime transport. 

“This milestone represents a significant progress in our commitment to innovation, sustainability, and operational efficiency," said the Port Authority of Ceuta. 

“By adopting MFM technology, we are reinforcing our position as a leading Mediterranean port and ensuring a high-quality, transparent service for all our clients.”

 

Photo credit: Port Authority of Ceuta
Published: 13 February, 2025

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Technology

Auramarine and Lazar Scientific team up in US for Porla Fuel Analyser

Collaboration will help expand market for Auramarine Porla Fuel Analyser, a proven technology that enhances bunkering safety, helps avoid unintended maintenance and reduces downtime and associated costs.

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Auramarine and Lazar Scientific team up in US for Porla Fuel Analyser

Finland-based fuel supply systems provider Auramarine on Wednesday (12 February) said it has agreed to collaborate with Lazar Scientific to expand the market for Auramarine’s Porla Fuel Analyser. 

Lazar Scientific is a US based company specialising in the sales and support of laboratory instrumentation. In this co-operation, Lazar Scientific is now the US distributor for Auramarine’s Porla Fuel Analyser working cooperatively with Auramarine’s sales and marketing team.

Auramarine said the proven technology enhances bunkering safety, helps avoid unintended maintenance and reduces downtime and associated costs.

“Maintaining the stability and compatibility of crude oils is essential to avoid problems such as the aggregation of asphaltenes, which can obstruct processing equipment,” it said in a statement. 

Additionally, precise measurements enable refineries to mix different crude oils efficiently, ensuring the blends remain stable. In the case of marine fuel blends, proper analysis helps in adhering to environmental regulations and standards. 

“By measuring asphaltene stability and compatibility, companies can mitigate potential hazards and ensure safer handling of crude oil,” it added. 

The Porla Fuel Analyser is an easy, reliable and fast analyser that improves the profitability of refinery processes by enabling refineries to select more cost-effective mixtures of crude oils with no risk of fouling. 

The Porla Fuel Analyser predicts the compatible blending ratios between different crude oils by measuring their blending compatibility parameters. Unlike other comparable analysers, the Porla Fuel Analyser can measure stability and compatibility parameters of crude oils that have a very low asphaltene content down to 0.05 % and complies fully with ASTM D7112.

John Bergman, CEO of Auramarine, said: "We are pleased to announce this co-operation agreement with Lazar Scientific.”

“Their vast experience in selling analysis instrumentation as well as their extensive network will ensure future opportunities and improved market share for the Porla Fuel Analyser in the US market.” 

Greg Lazarczyk, President and Owner of Lazar Scientific, said: “We are looking forward to joining forces with Auramarine to bring an analyser that reliably determines stability and compatibility of heavy fuel oils and crude oils to the US market.”

Dr. Jaakko Lehtinen, Product and Sales Manager of Porla at Auramarine will present on the new requirements in asphaltene stability and compatibility measurement of crude oil and marine fuel oils in Boston Massachusetts at Pittcon 2025 on 4 March.

 

Photo credit: Auramarine
Published: 13 February, 2025

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Environment

Singapore, Indonesia and Malaysia conduct table-top exercise to strengthen oil spill response

Exercise focused on several aspects including collaboration between government agencies and oil spill response firms to optimise oil spill response resources for incidents in Straits of Malacca and Singapore.

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The Maritime and Port Authority of Singapore (MPA) on Tuesday (11 February) conducted a table-top exercise (TTX) with Indonesia and Malaysia to enhance regional coordination and strengthen response capabilities for oil spills. The exercise brought together over 20 representatives from MPA, Indonesia’s Directorate General of Sea Transportation, Malaysia’s Environment Department, and oil spill response experts from ITOPF. As part of Singapore’s chairmanship of the Revolving Fund Committee (RFC) from April 2022 until March 2027, MPA led the TTX to foster collaboration between the littoral States of Indonesia, Malaysia and Singapore. The RFC, established through a memorandum of understanding (MOU) between the three littoral States and the Malacca Strait Council (MSC) in 1981, is a funding mechanism allowing each littoral State to draw cash advance from the Fund to combat oil spill from ships in the Straits of Malacca and Singapore (SOMS). The exercise focused on coordination procedures to ensure swift and clear communication between the littoral States during an oil spill incident, rapid deployment of oil spill response assets by the littoral States, and collaboration between government agencies and oil spill response companies to optimise oil spill response resources for incidents in the SOMS. The response strategies and asset deployment plans tested during the TTX will be exercised during a Ground Deployment Exercise between the three littoral States and ITOPF in 2026. Photo credit: Maritime and Port Authority of Singapore Singapore, Indonesia and Malaysia conducts table-top exercise to strengthen oil spill response

The Maritime and Port Authority of Singapore (MPA) on Tuesday (11 February) conducted a table-top exercise (TTX) with Indonesia and Malaysia to enhance regional coordination and strengthen response capabilities for oil spills. 

The exercise brought together over 20 representatives from MPA, Indonesia’s Directorate General of Sea Transportation, Malaysia’s Environment Department, and oil spill response experts from ITOPF.

As part of Singapore’s chairmanship of the Revolving Fund Committee (RFC) from April 2022 until March 2027, MPA led the TTX to foster collaboration between the littoral States of Indonesia, Malaysia and Singapore. 

The RFC, established through a memorandum of understanding (MOU) between the three littoral States and the Malacca Strait Council (MSC) in 1981, is a funding mechanism allowing each littoral State to draw cash advance from the Fund to combat oil spill from ships in the Straits of Malacca and Singapore (SOMS).

The exercise focused on coordination procedures to ensure swift and clear communication between the littoral States during an oil spill incident, rapid deployment of oil spill response assets by the littoral States, and collaboration between government agencies and oil spill response companies to optimise oil spill response resources for incidents in the SOMS.

The response strategies and asset deployment plans tested during the TTX will be exercised during a Ground Deployment Exercise between the three littoral States and ITOPF in 2026.

 

Photo credit: Maritime and Port Authority of Singapore
Published: 12 February, 2025

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