West Indies Petroleum Restricted (WIPL) has introduced a partnership with Sunoco LP, an power infrastructure and gasoline distribution grasp restricted partnership working within the US, Puerto Rico, Europe, and Mexico, to revolutionise Jamaica’s marine gasoline (bunker) market.
The partnership, which formally started on January 1, 2025, positions Jamaica to develop into a significant marine gasoline hub within the Caribbean area.
Charles Chambers, CEO, WIPL, described the partnership as “a definitive game-changer” for Jamaica’s marine gasoline sector.
“This collaboration with Sunoco will dramatically improve the WIP group of firms’ potential to serve vessels working in Caribbean waters,” Chambers acknowledged.
The partnership addresses key challenges within the marine gasoline market, significantly associated to credit score and provide chain operations.
“Marine gasoline transactions contain very massive volumes and require important credit score capability each from suppliers and for purchasers,” Chambers defined. “Sunoco’s scale and monetary power will permit us to supply extra aggressive phrases to vessel operators, doubtlessly attracting ships that at the moment gasoline at different ports,” he continued.
WIPL CEO Charles Chambers
Sunoco just lately elevated its Caribbean and Latin American presence by means of the acquisitions of Peerless in Puerto Rico and expanded their mid-stream and pipeline belongings through the acquisition of NuStar Power. The latter got here with a bunker enterprise in Houston which Sunoco has maintained and seeks to develop additional.
Sunoco additionally brings substantial monetary power and operational experience to the partnership. The corporate is a number one operator of crucial power infrastructure in North America and is the continent’s largest unbiased gasoline distributor of branded and unbranded gasoline, distributing over 8.5 billion gallons yearly throughout greater than 40 states and the Caribbean. There are over 5 thousand Sunoco stations throughout the USA and the corporate has been actively increasing its marine gasoline operations.
WIP, which has operated in Jamaica’s marine gasoline sector for over a decade, will leverage its native market information and infrastructure whereas benefiting from Sunoco’s sturdy provide chain and credit score capabilities. The partnership transforms a number of of WIP’s present value centres, equivalent to tank storage providers and vessel operations, into income mills.
The partnership is anticipated to considerably enhance marine gasoline gross sales volumes in Jamaica by establishing the nation as a premier bunkering hub within the Caribbean, particularly given its strategic location alongside a number of main transport routes. This might have broader financial advantages, doubtlessly growing port exercise and associated providers.
WIP additionally supplies gasoline import, export, distribution, retail, lubricants, and storage providers. With storage in extra of 750,000 barrels, the corporate boasts the biggest gasoline bunker capabilities in Jamaica.
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