VTTI will be owned 10% by ADNOC, 45% by IFM Global Infrastructure Fund, and 45% by Vitol after development.
Ocean Energy and Singapore trader converted Futures Contracts into 3,000 mt physical fuel oil; cargo was later sold to Sinopec Fuel Oil (Singapore) Pte Ltd.
Refiner completes heaviest part of scheduled refinery maintenance programme in preparation for IMO 2020.
Restriction takes effect on Friday, 9 Aug from 1500hrs to 2200hrs, says Maritime and Port Authority of Singapore.
Ports include, but not limited to, Belfast, Carrickfergus, Larne, Londonderry, Warrenpoint, Greenore and Dundalk.
Tang has strong technical background and worked with fuel testing and inspection services for nearly 14 years.
Tanker rates impacted by heavier than normal refinery maintenance in 1H 2019 as refiners prepare for IMO 2020.
Processing and storage arrangement to commence from October onwards, two months earlier than anticipated.
World’s first listed delivered bunker fuel derivatives contract can help manage risk of disconnection between cargo and delivered bunker markets.
Fuel oil capacity conversions for the IMO 2020 bunker fuel regulations are ‘progressing well’, says CEO.
