Uniper Energy DMCC, a subsidiary of Frankfurt-listed Uniper SE, has reportedly claimed the largest cargo of low sulphur fuel oil (LSFO) at Fujairah port to customers in Asia ahead of the approaching IMO 2020 regulation.
It noted a tanker with 154,411 metric tonnes (mt) of LSFO product currently en route to the Singapore bunker market, and claimed an additional 80,000 mt of avails to be heading for Europe.
“Stakeholders in the bunkering supply chain — refineries, ports, traders, shippers and more — are nearing a cliff of major change that they must adapt to quickly,” Chris Wood, Managing Director of Uniper Energy DMCC, said in a statement.
Uniper Energy owns and operates two crude processing units located at the Port of Fujairah, the world’s second-biggest bunkering hub.
The company’s crude units annually produce more than 3 million tons of ultra low sulphur fuel oil.
Photo credit: Uniper
Published: 15 May, 2019
Current low prices for road and aviation fuels in September could mean another increase of flashpoint off-spec cases for MGO when players start introducing the products back into the bunker stream.
Some bunker suppliers at various ports have even achieved their sales target for the year; the trend doesn't seem to be slowing down and suppliers are expecting a boom during end of September.
The company has entered a memorandum of agreement with Millenium Satu Ltd to acquire the 7,550 dwt oil tanker to increase service flexibility; vessel will be paid over an installment period of 36 months.
Deloitte & Touche JMs believe IPP has a viable claim against Dr Goh Jin Hian for breaches of his director’s duties to act with skill, care and diligence which he owned to IPP, states court document.
An earlier MPA notice outlined precautionary measures for personnel to observe when conducting marine refuelling operations at port in order to minimise the risk of contracting Covid-19.
Mok’s offence affected public confidence in the use of the MFM system onboard Singapore bunker tankers, and caused an embarrassment to the MPA, said Deputy Public Prosecutors.