Attention: Turns out there are a few bugs which basically make mysql-utilities not usable atm.

On Ubuntu 16.04LTS install

sudo apt-get install mysql-utilities

To create a login-path run the followng, which will first prompt you to enter a password and then save the information.

mysql_config_editor set --login-path=prod --host=localhost --user=root --password

Once saved, you can use it like so:

mysql --login-path=prod

At the time of writing, the available options are:

host        no default value)
login-path  client
user        no default value
socket      no default value
port        no default value 

To print all the login-paths that are configured run:

mysql_config_editor print --all

If you need to remove an existing login-path use

mysql_config_editor remove --login-path=prod