IndianOil to take marine fuel biz global
New Delhi   15-Feb-2008
IndianOil, the largest commercial enterprise in the country, is now going global with the launch of its marine service products in Dubai, likely by the year-end. According to a senior IndianOil official, "In order to tap the global marine oil market, the company has decided to launch its product in the Gulf region." At present, IndianOil is the only oil company in India that produces marine lubricants for the shipping industry. The company has plans to launch its SERVO Marine 7050 and SERVO Marine 0530 products in its initial phase, and is eyeing a major portion of the business worldwide, starting from the Gulf region. The official also said that Dubai would cater to a major portion of the shipping industry for IndianOil's marine lubricant business. The company is also evaluating places like Sri Lanka and Mauritius for the same. Sources said considering the global scenario, IndianOil would mainly cater to the marine four-stroke trunk piston' engines which are the mainstay of much of the world's light to medium weight shipping and two-stroke 'cross-head' engines used in cargo vessels, container ships and super tankers. According to industry analysts, the lubricants supply service has expanded considerably in the recent years as a result of the increased demand around the world. In this context, IndianOil's move would be a profitable one. Globally, BP Marine has a major presence in more than 50 countries and 300ports, supplying customers with a wide range of innovative services. Similarly, companies like Chevron and Shell are the major players in marine oil products. IndianOil has a heritage and iconic brand at one level and a contemporary, global brand at another. Besides having a dominant market share, IndianOil is widely recognised as a dominant energy brand in the country.