---

GAC Bunker Fuels has unveiled plans to relocate the headquarters of its global bunker fuel services to Dubai under the new company name, GAC Bunker Fuels Ltd. The company also announced the appointment of Nicholas Browne as the new Global Director of GAC Bunker Fuels and Anthony Mollet as Commercial Director – Shipping (GAC UK).

GAC Bunker Fuels’ relocation to Dubai will take place in August 2012. The company said the move is driven by the benefits of Dubai as a shipping location, the opportunity to maximise the synergies between GAC’s bunker business with its strong ship agency business in the Middle East and a strategic decision to more closely integrate GAC Bunker Fuels within the GAC Group, which also has its corporate headquarters in Dubai.

Christer Sjödoff, Group Vice President, GAC Solutions, explained: "Co-locating our bunker business alongside GAC Group’s corporate headquarters in Dubai will allow us to exploit the full scope of services offered by the Group for the benefit of our bunker fuel customers and better synergise the comprehensive package of shipping services that we are uniquely well placed to deliver to vessel owners and operators. In addition, Dubai has great strengths as a strategic hub between Europe, Africa and Asia for international business."

Sjödoff continued: "We are also delighted to have appointed Nicholas Browne as the new Global Director of Bunker Fuels within the GAC Group. Nicholas has held a commercial role with GAC Bunker Fuels for some years now and has a strong background in risk assessment, mitigation and credit control, which will serve our customers very well as our bunker fuel business continues to grow."

Nicholas Browne, newly appointed Global Director of GAC Bunker Fuels, said: "I’m very excited to be taking up this new position and overseeing the relocation of GAC’s bunker fuel operations to our new home in Dubai. GAC Bunker Fuels has traditionally been very strong in the Middle East, thanks to our understanding of local customer requirements and our long history as shipping agents in the Persian Gulf region. This move consolidates GAC’s strength in the Middle East and enables greater integration for our bunker business within the GAC Group, particularly for our customers in the Offshore Oil & Gas sector and our major O&G principals."