Disclaimer: An online translation service was used in the production of the current editorial piece.
Sinopec Shengli Petrochemical on Tuesday (28 April) said it has successfully produced and exported low sulphur marine fuel, achieving a milestone for the Dongying district, according to Sinopec News Network, the company’s official news agency.
Thirty tankers carrying 5,000 metric tonnes of low sulphur marine fuel on Wednesday (22 April) were transported to Longkou Port for storage and later transferred to Sinopec’s export warehouse.
In early 2020, Shengli refinery started planning the production of low sulphur marine fuel in order to overcome the downturn in the fuel and diesel markets caused by the COVID-19 pandemic.
By the end of March, raw materials including low sulphur crude oil, and blending equipment were transported to the refinery. With the team’s high level of cooperation and execution, the refinery reported the successful production of its first batch low sulphur marine fuel that met IMO 2020 requirements by mid April.
Sinopic Shengli notes that it expects to produce 260,000 mt of low sulphur marine fuel throughout 2020.
Photo credit: Keith Mulcahy
Published: 29 April, 2020
Current low prices for road and aviation fuels in September could mean another increase of flashpoint off-spec cases for MGO when players start introducing the products back into the bunker stream.
Some bunker suppliers at various ports have even achieved their sales target for the year; the trend doesn't seem to be slowing down and suppliers are expecting a boom during end of September.
The company has entered a memorandum of agreement with Millenium Satu Ltd to acquire the 7,550 dwt oil tanker to increase service flexibility; vessel will be paid over an installment period of 36 months.
Deloitte & Touche JMs believe IPP has a viable claim against Dr Goh Jin Hian for breaches of his director’s duties to act with skill, care and diligence which he owned to IPP, states court document.
An earlier MPA notice outlined precautionary measures for personnel to observe when conducting marine refuelling operations at port in order to minimise the risk of contracting Covid-19.
Mok’s offence affected public confidence in the use of the MFM system onboard Singapore bunker tankers, and caused an embarrassment to the MPA, said Deputy Public Prosecutors.