The Singapore subsidiary of Connecticut-based Freepoint Commodities, a U.S. based merchant of physical commodities and a financer of upper-and mid-stream commodity-producing assets, is planning to start supplying very low sulphur fuel oil (VLSFO) at the republic by the fourth quarter (Q4) of 2019, reports Reuters.
“We already have Asian clients booking our supply of low-sulphur fuel oil,” which will start arriving in the fourth quarter, said Ouyang Xiuzhang, head of Freepoint Singapore, as quoted in an interview.
According to Ouyang, the parent company will be sending ship US fuel oil components for blending operations of VLSFO in Asia.
“We can supply out of floating storage in Singapore,” he notes while adding the company has earlier entered an agreement with PT Pertamina to further develop the TBBM Sambu Island Fuel Terminal.
Published: 22 August, 2019
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