Indonesian state-owned oil company Pertamina on Thursday (14 March) said it has entered into strategic partnerships with a number of state owned enterprises, locally known as Badan Usaha Milik Negara (BUMN), for the supply of marine fuel and other products.
Under the agreement, Pertamina will supply PT Inalum, PT Bukit Asam, PT Aneka Tambang, PT Timah, firms under BUMN Mining Industry Holdings, Biosolar (biofuel) and 180 centistokes (cSt) marine fuel oil 180 for a period of five years.
The total initial volume will start at 25,000 kilolitres (kl) per month and would increase to 40,000 kl per month; all firms will purchase oil from Pertamina at a similar price under the ‘Strategic Cooperation Agreement on Refined Oil Prices’ arrangement.
“This is a very important step so that we can provide the best for the nation,” said BUMN Minister Rini Soemarno.
“With synergy between BUMNs, it is expected that efficiency can increase, BUMNs will benefit and services to the community can be more optimal and can provide prosperity for the people of Indonesia.”
Photo credit: Pertamina
Published: 15 March, 2019
Bunker orders of ISO 8217:2010 spec LS 380 cSt 0.5% for Nord Gemini, Nord Titan, Ocean Rosemary, and Luzern were placed through global commodities trading and logistics house Trafigura Pte Ltd.
While Covid-19 concerns are important, Captain Rahul Choudhuri was quick to note this does not mean bunker fuel related issues have indeed disappeared from the shipping sector.
‘Therefore, representing the players of the Malaysian bunker industry, we sincerely hope that this matter can be refined and reconsidered immediately so that all parties benefit together,’ says communication.
Maureen Poh, a Director of Helmsman LLC, offers plain practical tips on the differences between US and EU Sanctions and shares some thoughts on what companies could do if they are potentially exposed to sanctioned entities.
‘We [Consort Bunkers] have the opinion that the bunker business in Singapore is not related to the widely reported earlier cargo commodity trading mishaps,’ company source tells Manifold Times.
Representatives of INTERTANKO, Helmsman and Rajah & Tann gather to discuss IMO 2020, legal frameworks for the purchase and supply of alternative marine fuels, and the handling of bunker claims.