Qatar-listed fuels marketing and distribution firm Qatar Fuel (WOQOD) posted a 9.2% rise in net profit for its 2017 financial year.
The company recorded net profit of 964 Million Riyals in 2017 compared to 883 Million Riyals in 2016.
Regarding developments in the bunkering sector, the company noted the start of a business arrangement with Qatar Petroleum in relation to “Ship to Ship” bunkering operations from bunkering facilities in Ras Laffan during 2017.
This resulted in bunker fuels sales increased by 10 times during the period, said Engineer A-Muhannadi.
Overall, sales of other fuels have increased by 6%; this included bitumen (275%), gas (12.2%) petroleum retail sales (26.1%), and non-petroleum retail sales (11%).
Moving on, he noted the company being engaged in an “ambitious plan” for increasing its stake of the market for distribution and transportation of petroleum products, gas, bitumen, bunker fuel, oils and lubricants.
“The Board has reviewed and endorsed the present and future plan and strategic priorities of the company for the period 2018-2022,” he says.
“The company has an ambitious plan for increasing its stake of the market for distribution and transportation of petroleum products, gas, bitumen, bunker fuel, oils and lubricants.”
Published: 1 March, 2018
IEA forecasts demand from all vessel types will drop by 5% this year, with 6% and 3% year-on-year falls in the third and fourth quarters.
Marine segment generated third quarter gross profit of $43 million, an increase of $13 million on year.
‘China is already a leader in production of renewable energy and shift towards methanol long term is in step with its decarbonisation ambitions,’ says Chris Chatterton, COO.
Extraordinary general meetings for both companies were held on Thursday, 25 March and Borrelli Walsh Pte Limited haS been appointed Liquidators for the process.
Firm uses expertise in ULSFO (
The company is now co-owned by WOESA (Women in Oil and Energy South Africa) and Linsen Nambi.
Glander International Bunkering (Norway) AS seeking payment of USD 115,963.52 (not including contractual compensation and interests) from the vessel’s demise charterer, according to court documents.
“In TotalEnergies, we already have projects along the e-Fuel value chain, from green electricity and green / blue hydrogen to e-Fuel production that will be integrated along the marine fuels value chain in time to come,” shares Louise Tricoire.
Buyers can nominate deliveries on platform and plan operations together with suppliers following ‘one single truth’ concept with all players aware of what has been agreed when and by whom, says DNV spokesman.
Rotterdam’s intention to mandate the usage of MFMs goes down well with licensed bunker supplier VT Group; MFM providers supportive of move but stressed continuous monitoring is needed for optimum performance.
Cost of alternative bunker fuels, bunker operations and technology advancement are some considerations to be examined by the maritime industry, says Neo, director of SDE International Pte Ltd.
Kim Hyung Joon and Han Donghoon were planning to join the Singapore entities of Hartree Group - either Hartree Partners Singapore Pte Ltd or Hartree Marine Fuels - in October, discovered management.
