Singapore: Maersk Oil Trading leases fuel oil storage at Tankstore

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

 

Oil Price

Top Ports Price $/mt Change High Low Spread
Singapore 493.38 0.00 514.00 470.00 44.00
Fujairah 506.83 0.00 510.50 500.00 10.50
Rotterdam 450.30 0.00 462.00 438.00 24.00
Hong Kong 494.50 0.00 512.00 474.00 38.00
Antwerp 462.00 0.00 464.00 460.00 4.00
Top Ports Price $/mt Change High Low Spread
Singapore 508.33 0.00 518.00 497.00 21.00
Fujairah 544.83 0.00 582.00 520.50 61.50
Rotterdam 481.50 0.00 490.00 475.00 15.00
Hong Kong 504.50 0.00 528.00 484.00 44.00
Antwerp 488.50 0.00 492.00 485.00 7.00
Top Ports Price $/mt Change High Low Spread
Singapore 708.83 0.00 719.00 696.00 23.00
Fujairah 795.33 0.00 800.00 790.00 10.00
Rotterdam 682.88 0.00 714.00 660.00 54.00
Hong Kong 731.67 0.00 743.00 722.00 21.00
Antwerp 680.00 0.00 680.00 680.00 0.00

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