Marubeni Corporation (Marubeni) on Wednesday (5 June) signed a Memorandum of Understanding with Sinopec Fuel Oil, a subsidiary of Chinese state-owned petrochemical company China Petroleum and Chemical Corporation, for the supply of 0.5% low sulphur fuel oil (LSFO) marine fuel.
The MOU secures the supply of IMO 2020 compliant marine fuel for Japanese vessels calling Chinese ports, says Marubeni.
It will also establish Marubeni as a “strategic partner” of Sinopec, and help both firms establish a stable supply network of IMO 2020 compliant fuels outside China.
“We will examine the possibility of collaboration in a wide range of businesses,” said the Japanese firm.
“Marubeni actively promotes and expands the development and handling of fuels with low environmental impact in the energy sector, we aim to realise a sustainable society.”
Sinopec on Wednesday said it will produce 10 million metric tonnes (mt) and 15 million mt of LSFO material respectively in 2020 and 2023.
Related: Sinopec targets 10 million mt, 15 million mt LSFO production by 2020, 2023
Related: Sinopec to provide marine fuels and bunkering at Hambantota
Related: Sinopec 0.5% LSFO bunker heads to maritime institute for trial tests
Related: Shanghai Petrochemical starts LSFO marine fuel production
Related: Sinopec to supply IMO 2020 compliant bunkers from deadline
Related: Sinopec prepares refinery for 2020 IMO rule
Published: 10 June, 2019
Session will provide insights on bunker quality issues from a bunker supplier, shipping company and surveyor, as well as providing insight and guidance on legal and dispute resolution issues.
Gealubes Consulting & Trading, the authorised marine business distributor of PANOLIN EALs at Singapore port, shares a two-part education series on Environmentally Acceptable Lubricants on Manifold Times.
Danny Lee Chee Keong was sentenced to nine months’ imprisonment over the theft of MFO from the Consort Bunkers owned and operated bunker tanker at the sea off Eastern Petroleum ‘B’ anchorage.
‘Metcore’s MFM+ Program exemplifies serious oil suppliers and buyers who advocate fair trading using a recognised and widely-accepted technology,’ highlights Darrick Pang, Managing Director of Metcore.
‘The victim is Consort Bunkers Pte Ltd, the owner of the Pearl Melody,’ states the joint statement of facts (SOF) document obtained by Singapore bunkering publication Manifold Times.
Between November 2016 and October 2017, Mr Tan falsified at least 20 invoices and submitted these invoices to UOB and OCBC, according to court documents obtained by bunkering publication Manifold Times.