New York-listed PBF Logistics has entered into an agreement with Crown Point International to purchase its wholly-owned subsidiary, CPI Operations, for USD $107 million in preparations for the upcoming International Maritime Organization (IMO) sulphur fuel in 2020.
The acquisition includes a storage facility with approximately four million barrels of multi-use storage capacity (of which over 50% is heated storage), an Aframax-capable marine facility, a rail facility, a truck terminal, equipment, contracts, and other idled assets located on the Delaware River near Paulsboro, New Jersey.
“The acquisition of the East Coast Storage Assets will be immediately accretive and will strategically position the Partnership for the upcoming IMO low-sulphur fuel specification change in 2020 by adding significant marine-accessible storage assets to our portfolio that are capable of handling a range of material from finished petroleum products and residual fuel oils to heavy, high-sulphur refinery feedstocks,” said Matt Lucey, PBF Logistics Executive Vice President.
Published: 20 July, 2018
Duo will initially focus on the supply of sustainable marine biofuels to all Singaporean territorial waters, waterways, and harbours, as well as those transiting the Strait of Malacca.
The eight, 49,999 deadweight tonne vessels will be built in South Korea at Hyundai Mipo Dockyard and delivered to WFS between 2021 and 2023.
Increase made possible through cooperation between entities which launched the “China Zhoushan Low Sulphur Fuel Oil Bonded Vessel Offer”, and more.
Offshore Technology Development will offer TECO 2030’s cleantech products, such as hydrogen fuel cells, CCS solutions and exhaust gas cleaning systems.
Techfast subsidiary Fast Energy will supply bunkers in the range of 10,000 metric tonnes to 30,000 metric tonnes each month to Wise Marine for three years.
Lim claimed the documents were “mistakenly” issued, and as he was unaware of the process, he would not be liable for HSBC’s losses, reports Bloomberg.
Firm hopes to leverage partnership in Greece as a springboard to expand into neighbouring and overseas markets including Europe and China, says Robin Van Elderen, Regional Head Bunkers, Europe, Sing Fuels.
Singapore can help less developed countries in SouthEast Asia through ‘piloting and scaling fuels and technology as well as a leading hub for green finance’, said DNV Group President and CEO Remi Eriksen.
Octamar™ Ultra HF, Octamar™ Complete, and Octamar™ F35C were found to have improved the fuel economy while reducing exhaust gas and other emissions of marine engines in a series of trials, states report.
Disposal of evidence has resulted in Singapore not being able to provide full details to the United Nationals Panel of Experts which sought information regarding the case, says Ministry of Foreign Affairs.
‘We are proud to be amongst the first to show the successful steps taken by Singapore’s bunkering ecosystem to remain forward thinking and relevant,’ Choong Sheen Mao, Director of EMF, tells Manifold Times.
‘With the launch of a common data infrastructure, Kenoil aims to continue achieving an end to end visibility and transparency on the bunker data supply chain,’ states Kenoil Managing Director.
