Singapore: Maersk Oil Trading leases fuel oil storage at Tankstore
Maersk Oil Trading has entered into a six-month leasing agreement for 120,000 cubic meters of fuel oil storage at the Tankstore oil terminal in Singapore, reports Reuters.
The latest development, as part of preparations by the company for upcoming IMO 2020, builds upon an earlier joint initiative between parent company A.P. Moller - Maersk and Vopak at Rotterdam.
The Rotterdam initiative will cater for circa 20% of Maersk global demand, enabling A.P. Moller - Maersk to deliver approximately 2.3 million metric tonnes (mt) of 0.5% sulphur limit marine fuels per year.
Related: Vopak will cater to 20% of Maersk’s global LSFO demand
Photo credit: Manifold Times
Published: 11 October, 2018
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