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
‘Our crew ensured the vessel was biofuel-ready and the trial conducted safely,’ says Rajesh Unni, Founder and CEO of Synergy Marine Group.
Creditors meeting aims to receive a statement of the company’s affairs together with the list of creditors and the estimated amounts of their claims.
New order brings the order book of CMA CGM Group to 69 vessels, accelerating its decarbonisation trajectory by investing massively in gas and methanol bunker fuels, it said.
Unidentified broker and his accomplices were accused of supplying 18,000 tonnes of diesel to North Korea on a total of 35 occasions from October 2021 to January last year.
Current total investment of the project reaches RMB 1.256 billion (USD 190 million), mainly to build crude oil and bunker fuel tank storage with total capacity of 1.04 million m3.
Vessels chartered by Vale could be adapted to store bunker fuels such as liquefied natural gas (LNG), methanol and ammonia in the future with multi-fuel tank design.
Transferred shares of 40 subsidiaries to BVI firm after tribunal awarded claims in favour of Trinity Seatrading; YSPL has also filed a civil complaint against DNV and Liberian ship registry at Nanjing Maritime Court.
ADNOC L&S, Gulf Energy Maritime, Cockett Marine Oil, Mideast/Bahri Ship Management and VPS experts present their views on biofuel bunker hurdles at the VPS Biofuels Seminar in Dubai on 16 March.
‘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.
