Independent oil trader Vitol has started operations to build a 30,000 barrels per day capacity refinery beside its oil storage terminal at Tanjung Bin, Johor in Malaysia, Vitol Asia President and CEO Kho Hui Meng told Reuters.
The refinery, to be completed by May 2020, will be built to provide low sulphur marine fuel to vessels from 2020 onwards when the global sulphur limit for bunker fuels decrease to 0.5%.
China National Petroleum Corp (CNPC) has been contracted to handle the Vitol refinery project; CNPC will be transporting a second-hand crude distillation unit (CDU) from China to the site as part of construction operations.
The Malaysian refinery will complement Vitol’s existing refineries in Fujairah to produce IMO 2020 compliant marine fuel.
Published: 25 June, 2019
Universal Alliance, BMS United, Digiland International, Goodwood Associates, Southernpec (Singapore), and Taigu Energy were involved in alleged circular fictitious trades of fuel oil during July 2015.
Bunker orders of ISO 8217:2010 spec LS 380 cSt 0.5% for Nord Gemini, Nord Titan, Ocean Rosemary, and Luzern were placed through global commodities trading and logistics house Trafigura Pte Ltd.
While Covid-19 concerns are important, Captain Rahul Choudhuri was quick to note this does not mean bunker fuel related issues have indeed disappeared from the shipping sector.
‘Therefore, representing the players of the Malaysian bunker industry, we sincerely hope that this matter can be refined and reconsidered immediately so that all parties benefit together,’ says communication.
Maureen Poh, a Director of Helmsman LLC, offers plain practical tips on the differences between US and EU Sanctions and shares some thoughts on what companies could do if they are potentially exposed to sanctioned entities.
‘We [Consort Bunkers] have the opinion that the bunker business in Singapore is not related to the widely reported earlier cargo commodity trading mishaps,’ company source tells Manifold Times.