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Sinopec plans 100-barge fleet to support IMO 2020 VLSFO ops

15 Nov 2019

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.

Related: Sinopec targets 10 million mt, 15 million mt LSFO production by 2020, 2023
RelatedSinopec 0.5% LSFO bunker heads to maritime institute for trial tests
RelatedShanghai Petrochemical starts LSFO marine fuel production
RelatedSinopec to supply IMO 2020 compliant bunkers from deadline
RelatedSinopec prepares refinery for 2020 IMO rule

Photo credit: Sinopec
Published: 15 November, 2019

 

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