Chinese oil major Sinopec is planning to create a 100-barge fleet within the next three years to support IMO 2020 bunkering operations, reports Reuters.
“To match Sinopec’s goal of supplying 10 million tonnes of IMO compliant fuel next year and 15 million tonnes in 2023, it [Sinopec] must have a fleet of its own,” a Zhoushan-based executive told the news agency.
The company plans to order 50 bunkering newbuilds (each between 8,000 to 10,000 dwt) in a CNY 4 billion (USD 571.91 million) investment at Chinese shipyards, and charter the remaining half (each between 3,000 to 4,000 dwt) from other players.
Zhoushan-based Shihua Nanjing Tanker Co, a joint venture between Sinopec Fuel Oil Company and state-run shipping firm Nanjing Tanker Co, would operate the fleet.
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Photo credit: Sinopec
Published: 15 November, 2019
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