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
‘Bunker barges operate in very local areas so these vessels call at port very often which means it will be a good fit for women with families,’ states Elpi Petraki, President of WISTA International.
“Our Singapore branch is under preparation and is expected to start business at the republic before June 2023,” Managing Director Darcy Wong tells bunkering publication Manifold Times in an interview.
Development to supply B35 biodiesel blend officially takes effect on 1 February; local bunker suppliers will be able to deliver updated spec within March onwards, once current stocks of B30 avails run out.
VPS, Global Centre for Maritime Decarbonisation, Wilhelmsen Ship Management, and INTERTANKO executives offered a multitude of perspectives to 73 attendees during the VPS Biofuels Seminar, reports Manifold Times.
Headway will launch a new fuel supply system suitable for alternative bunker fuels such as hydrogen and ammonia; to focus on procurement and construction of carbon capture systems in 2023 following R&D.
Competition for FAME from aviation and road transportation sectors have resulted in some shipowners resorting to adopt more readily available CNSL blends as biofuel for vessels, explains Steve Bee.