China Marine fuel suppliers such as Chimbusco, PetroChina and Sinopec Corp are importing very low sulphur fuel oil (VLSFO) from international oil majors including Shell, Uniper and Freepoint to meet demand for the first quarter of 2020, according to Reuters.
PetroChina has secured close to 1 million metric tonnes (mt) of 0.5% sulphur content fuel oil from Dubai-based Uniper Energy, a united of Germany’s Uniper, and Freepoint.
Chimbusco, meanwhile, has secured VLSFO from companies including Shell to cover bunker sales in the following months.
Sinopec has built the smallest inventory compared to PetroChina and Chimbusco.
“China continues to buy the (low-sulphur) fuel in bulk from Singapore as local tax legislation deters Chinese refiners from selling into the bunker (shipping) fuel market,” said consultancy Energy Aspects in a note, as quoted by Reuters.
China’s state refiners have pledged to produce a combined 14 million tonnes of VLSFO for 2020.
Picture credit: Manifold Times
Published: 24 December, 2019
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.
3,490 mt of LSFO from Itochu Enex was lifted at Universal Terminal; the same bunker stem was bought by Global Marine Logistics and delivered by bunker tanker Juma to receiving vessel Kirana Nawa.
Representatives of Veritas Petroleum Services, Maersk, INTERTANKO, ElbOil Singapore, and SDE International provide insight from their respective fields of expertise on what lies ahead.