The following article where information was supplied by our China correspondent was first published by Manifold Times on 15 December. An online translation service was used in the production of the current editorial piece:
Sinopec Fuel Oil Company and Zhoushan Traffic Investment Group on Tuesday (7 December) entered into a memorandum of cooperation at Zhoushan, according to local media.
The two sides will jointly establish a comprehensive maritime service supply platform company with the same share ratio focusing on marine fuel oil supply and the material supply business; other expansion aspects such as agency, storage, oil trade and other businesses will be explored at the same time.
The new platform company will also build an updated bunkering fleet consisting of “Zhoushan Type 2.0” bunker tankers as the core.
In July 2018, Sinopec Fuel Oil Company accounted for nearly 40% of annual oil supply operations at the Zhejiang pilot free trade area. The firm is the largest bunker supplier operating in the region, and actively promotes the local maritime supply business.
The strong cooperation and integrated development of Sinopec Fuel Oil Company and Zhoushan Traffic Investment Group will have a far-reaching and significant impact on the development of the Zhoushan maritime service industry, noted stakeholders.
Xu Xiaoyue, executive vice mayor of Zhoushan Municipal Government, Liu Zurong, Party Secretary and Executive Director of Sinopec Fuel Oil Company, and Yuan Haibin, Secretary of the Party Committee and Chairman of Zhoushan Trading Group, attended the signing ceremony.
Wang Qian, deputy chief economist of Sinopec Fuel Oil Company and manager of the Global Ship Oil Supply Business Center, and Ying Nengjie, deputy general manager of Zhoushan Trading Group, respectively signed the memorandum of cooperation on behalf of both sides.
Photo credit: Sinopec
Published: 15 December, 2021
The SMW Exhibition 2018, opened on Sunday, will be held at Suntec City North Atrium from 21 to 29 April.
Development an ‘exciting and positive next step in GoodFuels’ journey,’ says GoodFuels CEO Dirk Kronemeijer.
‘As a result of focusing on the development of eco-friendly technologies [...] to meet IMO environmental regulations, we have been recognised in the global market,’ said CEO.
‘[…] rise in scrubber-fitted ships has supported demand for HSFO and will remain until new solutions and future fuels are widely introduced,’ said Chief Shipping Analyst.
While port authorities stay silent on the subject of wash-water, vessels are advised to switch to a closed-loop if using hybrid scrubbers or IMO 2020 compliant fuel.
IMO meeting considered impact assessment methodology ahead of sending the ‘Scope of Work’.
‘We are happy to sit down with interested parties to discuss this opportunity, and share more details of our business regarding STS transhipment and storage with potential clients upon request,’ states Managing Director.
Top three positive movers in 2021 were Hong Lam Fuels Pte Ltd (+14); Sirius Marine Pte Ltd (+12); and TFG Marine (+11); according to the latest data from the Maritime and Port Authority of Singapore.
Webinar will offer delegates insights on the prevention of operational issues when using VLSFOs, along with an update on biofuels and bunker fuel quality trends for 2021 and its forecast for the current year.
Heating VLSFOs to prevent cold flow issues causes issues related to distillate ageing, and there is a gentle balance to be maintained when handling the product.
Research into n-paraffin distribution of VLSFOs has shown that they not only differ from MGO, but significantly differ from each other as well, states bulletin.
Bunker Holding and Dan-Bunkering have decided not to appeal the city court ruling in the case where the companies were on trial for breaching EU sanctions against Syria, states USTC.
