The Petroleum Company of Trinidad and Tobago Limited (Petrotrin), a state-owned oil company of the Republic of Trinidad and Tobago (T&T), is planning to enter the marine fuels sector after a change in operation plans, reports St. Lucia Times.
The company has made a decision to close its refinery in October; a move which will cause the loss of 1,700 jobs and result in a change in business direction to be a fuel storage facility.
“As we speak, it’ll be converted into a terminalling facility that will use up all its tankage (tanks),” said T&T Energy Minister Franklin Khan.
“There would be bunkering facilities, as there’s tremendous storage capacity at the refinery. That operation will be much scaled down than if you were running a full refinery.”
Petrotrin recorded net loss of TTD 602 million (USD $88.8 million) in the nine months ended June 30 (Q3) of 2018, 63.7% more than net loss of TTD 368 million in Q3 2017.
It posted revenue of TTD $18.0 billion in Q3 2018, 21.2% more than revenue of TTD 14.8 billion in the similar period last year due to higher oil prices.
In March, a new executive team took over operations to oversee the implementation of cost reduction and waste cutting strategies.
Photo credit: Petroleum Company of Trinidad and Tobago Limited
Published: 3 September, 2018
Development allowed within Brazilian Jurisdictional Waters until competent environmental authority has opportunity to better assess scenario.
14 other crew members on board the same ship were later confirmed to have COVID-19, and all 15 members were transferred ashore to a hospital, reports MOH.
More than 6,500 registrants from across the maritime value chain participated in the DNV Conference – The Fuel of the Future – held on Wednesday.
Newly launched solution generates insights in a bunkering market, such as expected delivery waiting times, or gathering facts for use in Claims and Disputes.
Creditors of Raffles Bunkering are required on or before 16 October 2021 to send in their names and address with particulars (if any) to the Liquidator.
Initial investigation found the ship, which had five members on board, to be transporting the illegal diesel oil with no documents proving its legal origin.
‘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.
