Indian refineries Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation (BPCL) are planning to import low sulphur bunker fuel for supply to vessels by 2020 due to them being unable to produce the grade.
IOCL and BPCL have floated tenders in December to respectively charter a very large crude carrier (VLCC) and a Suezmax carrier to import low sulphur fuel oil to India, according to The Hindu Business Line.
The charter period will be for as much as seven years and is the first of such to be carried out in India.
Shipowners need to consume bunker fuel with a sulphur content of not more than 0.50% from 2020 and the chartered vessels are expected to meet the requirement by either consuming low sulphur bunkers or by installing a scrubber on board.
The owners may have to conduct modifications at their own expense to meet the IOCL and BPCL contract as “any modification/retrofitting required on the vessel to be carried out by vessel owner at their cost and time”, says the tender.
Published: 28 December, 2017
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