Indonesian state-owned oil company PT Pertamina has opened an office in Singapore to trade and market marine fuel, amongst other products, according to Reuters.
Agus Witjaksono, the managing director of Singapore-based Pertamina International Marketing and Distribution Pte Ltd, said the company will be targeting for a 5% share in Singapore’s marine fuels market in five years by taking advantage of the parent company’s low sulphur fuel oil (LSFO) production facilities in Indonesia.
“We have an advantage because of IMO 2020. Pertamina has low-sulphur fuel oil and blending components so we can enter into partnerships with oil blenders,” Witjaksono told Reuters.
He pointed out oil blending operations for IMO compliant marine fuels to be carried out at the TBBM Sambu Island Fuel Terminal, amongst other locations, where Pertamina is supplying blending components to the Singapore subsidiary of U.S. based Freepoint Commodities.
The TBBM Sambu Island Fuel Terminal is currently being upgraded in a joint venture with the Singapore subsidiary of U.S. based Freepoint Commodities through an agreement with PT Pertamina signed in May.
Singapore recorded total marine fuel sales of 49.8 million metric tonnes (mt) in 2018.
Photo credit: Pertamina
Published: 26 September, 2019
IBIA Asia, ABIS, sources from Singapore’s bunkering and surveying companies, and an industry veteran share with Manifold Times the issues expected from MPA’s latest Covid-19 measures.
The top three positive movers in the 2020 bunker supplier list are Hong Lam Fuels Pte Ltd (+13); Chevron Singapore Pte Ltd (+12); and SK Energy International (+8), according to MPA list.
‘We will operate in the Singapore bunkering market from the Tokyo, with support from local staff at Sumitomo Corporation Singapore,’ source tells Manifold Times.
Changes include abolishing advance declaration of bunkers as dangerous cargo, reducing pilotage fees on vessels receiving bunkers, and a ‘whitelist’ system for bunker tankers.
Claim relates to deliveries of MGO to the vessels Pacific Diligence, Pacific Valkyrie, Pacific Defiance, Crest Alpha 1, and Pacific Warlock between March 2020 to April 2020.
3,490 mt of LSFO from Itochu Enex was lifted at Universal Terminal; the same bunker stem was bought by Global Marine Logistics and delivered by bunker tanker Juma to receiving vessel Kirana Nawa.
15 Jan 2021