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
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