Edit: The article below was edited at 8.30pm (Singapore time) on 1 March to accurately reflect the size of Patriza Cosulich.
Singapore bunkering firm Fratelli Cosulich has welcomed the addition of Patriza Cosulich to its Singapore bunkering fleet.
The 6,100 deadweight tonne (dwt) vessel was formerly known as the UE Sapphire and is scheduled to start operations around 10 March, Timothy Cosulich, CEO and Board Member of Fratelli Cosulich, told Manifold Times.
He noted the vessel, when ready, will be used to deliver fuel oil grades to receiving vessels at Singapore port.
The UE Sapphire earlier belonged to Universal Energy, a Singapore-based bunkering company which exited the sector in 2017 due to financial issues, unlike other bunker barge operators.
“Integrity of the vessel’s MFM system was intact when purchased, so there was no need to re-certify the bunker tanker for MFM operations,” he said.
Meanwhile, Cosulich notes the sales and purchase (S&P) sector for bunker tankers at Singapore returning to normal.
“I see a balanced market,” he says. “Most of the barges from those players who have exited the market have been already reallocated.”
“I see a market that is favourable for honest and reliable players who are not involved in stealing, cheating or other illegal activities.”
Fratelli Cosulich aims to sell more than 3.5 million metric tonne (mt) of marine fuel and purchase its eight bunkering tanker at Singapore port in 2018.
Published: 1 March, 2018
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