Zhang Tong, vice president of state oil major PetroChina International said Chinese refineries would be able to produce 18.1 million metric tonnes (mt) of low sulphur bunker fuel this year, sustainably serving its own market for marine fuel, reported Reuters.
The statement was reportedly made as part of a speech by Zhang at the opening of the LSFO futures contract on the Shanghai International Energy Exchange.
Zhang added China will be able to produce 22.6 million mt of the IMO-compliant fuel by 2021, increasing output to 29.6 million mt by 2022
If China were to optimise its production capacity, the country would be self-sufficient in supplying its bunker fuel market, which serves an estimated 12 million mt to the international shipping community annually, he concluded.
Traditionally, China imported its supply of bunker fuel from suppliers in the region like Singapore and South Korea, but the transition into IMO 2020 and the economic impact of COVID-19 has seen many state-run refineries pivot to producing low sulphur bunker fuel to serve domestic and international demand.
Published: 24 June, 2020
Caroline Yang, President of SSA, addresses issues earlier raised by players; including PMC No. 04, the seven-day restriction, contactless bunkering, sampling point, hose connection, and more.
IBIA Asia, ABIS, sources from Singapore’s bunkering and surveying companies, and an industry veteran share with Manifold Times the issues expected from MPA’s latest Covid-19 measures.
The top three positive movers in the 2020 bunker supplier list are Hong Lam Fuels Pte Ltd (+13); Chevron Singapore Pte Ltd (+12); and SK Energy International (+8), according to MPA list.
‘We will operate in the Singapore bunkering market from the Tokyo, with support from local staff at Sumitomo Corporation Singapore,’ source tells Manifold Times.
Changes include abolishing advance declaration of bunkers as dangerous cargo, reducing pilotage fees on vessels receiving bunkers, and a ‘whitelist’ system for bunker tankers.
Claim relates to deliveries of MGO to the vessels Pacific Diligence, Pacific Valkyrie, Pacific Defiance, Crest Alpha 1, and Pacific Warlock between March 2020 to April 2020.