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
The bunker player at Hong Kong and Chinese ports shares with Manifold Times what local shipping sectors went through during the early days of COVID-19 and how business is resuming.
April bunker sales results released on Wednesday caught several players, who expected volume to fall due to lower international trade and COVID-19, by surprise.
‘OTPL has a strong group of employees who have the requisite expertise and experience in ship chartering and management, which has commercial value and should be kept intact.’
Company believes market and business partners ‘likely to have greater confidence and comfort in continuing business dealings’ if placed under judicial management, says Director.
Panellists covered several marine fuel related topics including bunker fuel quality testing, COVID-2019, and long term storage of VLSFOs experienced during the first 100-day period.
Latest development alleges Chua Chin Lan facing total debt of approximately USD 5 million due to personal guarantees undertaken with Innovek and Global Energy Trading.