Oil tanker broker ACM begins operations

Vol 11, PW 18 (24 Jan 08) News in Brief

London-based oil tanker and petroleum products broker ACM Shipping has begun operations in India with an office in Mumbai.

“We have started dealing with Indian private sector tanker owners like Essar Shipping and Great Eastern,â€‌ an ACM source tells this report. ACM is waiting to be formally â€کapproved’ by state-owned oil companies IOC, BPCL and HPCL, as well as state-owned tanker company Shipping Corporation of India (SCI).

ACM tells us its India office has been set up to, “give better service to Indian clients who until now have had to handle the (five-hour) time difference when dealing with brokers in London.â€‌ Prior to opening its India office, ACM had been doing business with Indian clients through other brokers.

“With our own operations here,â€‌ adds ACM, “we’ll bring more value to our Indian customers.â€‌ ACM claims it is one of the world’s leading “integrated oil transportation brokersâ€‌ and after London and Mumbai also has offices in Singapore.