Cyprus-based global commodity trading firm Gunvor is considering a partial sale of its 1.5 million cubic metre capacity Rotterdam oil storage facility.
A source close to the development told Reuters the sale relates to Gunvor’s Stargate Oil Terminal at Rotterdam.
The company acquired the facility which stores crude oil, liquefied petroleum gas, naphtha, gasoline, kerosene, gasoil, vacuum gasoil and fuel oil after purchasing the 88,000-barrels-per-day Rotterdam refinery from Kuwait Petroleum International in 2016.
Last year, Gunvor sold its stake in the crude oil storage business at the Maasvlakte Olie Terminal to Saudi Aramco Overseas Co.
Photo credit: Port of Rotterdam
Published: 14 March, 2018
Bunker fuel in Singapore is experiencing an emerging dual pricing system as contamination concerns spread throughout Asia-Pacific.
In total, 4.22 million metric tonnes (mt) (exact 4,221,600 mt) of various marine fuels were sold at the world’s largest bunkering port in November.
Delivery of the first of the two bunker tankers is expected in the second half of 2022; vessels able to charge ESS battery systems from onshore sources.
Low sulphur supply normal in the ARA and Gibraltar Strait; ARA fuel oil stocks recover from multi-month lows; bunker supplies normal in Durban, Algoa Bay.
27-meter towboat “Hydrogen One” will travel with a load for about four days at the speed of 6 miles per hour, covering approximately 550 miles before the need to refuel.
It is time to reconsider the Bunker Convention’s applicable limits given the devastating effect that as little as 1,000 tonnes of heavy fuel oil can cause, says lawyer.
Buyers can nominate deliveries on platform and plan operations together with suppliers following ‘one single truth’ concept with all players aware of what has been agreed when and by whom, says DNV spokesman.
Rotterdam’s intention to mandate the usage of MFMs goes down well with licensed bunker supplier VT Group; MFM providers supportive of move but stressed continuous monitoring is needed for optimum performance.
Cost of alternative bunker fuels, bunker operations and technology advancement are some considerations to be examined by the maritime industry, says Neo, director of SDE International Pte Ltd.
Kim Hyung Joon and Han Donghoon were planning to join the Singapore entities of Hartree Group - either Hartree Partners Singapore Pte Ltd or Hartree Marine Fuels - in October, discovered management.
‘When you think of Helmsman on the next occasion, think of us as lawyers with expertise in various fields. Come to us before a problem develops. It’s the process that matters,’ says Tang Chong Jun, Executive Director.
Bernard Chew was a former shareholder of MB Marine and was an authorised signatory of the company’s cheques at the material time, according to court documents obtained by Manifold Times.
