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
Event welcomed over 1,100 attendees from 42 countries; delegates visited virtual booths about 4,800 times; while around 5,800 connections were made, according to data from organiser Informa.
Bunker suppliers and bunker craft operators may choose to carry out meter verification using either existing MIMO method OR with the use of a Master Meter.
Pai Kheng Pheng of Sentek Marine & Trading Pte Ltd on Thursday (8 October) was ordered remanded for a further week for investigations, AGC spokesperson informs Manifold Times.
INTERTANKO, BIMCO, SSA, IBIA Asia share what the technology brings to the waterfront, while operator Metcore International and manufacturer Endress+Hauser explain its benefits to the bunkering industry.
‘We still see circumstances where a product is ‘off-spec’ and the holder of the fuel is then trying to move it back ‘on-spec’ through the use of appropriate additive technology,’ says spokesman.
Captain Rahul Choudhuri, Managing Director AMEA at VPS, suggests a ban on the obsolete marine fuel quality standards of ISO 8217:2005 and 2012 which no longer apply to the shipping sector.