Singapore-based commodities trading firm Zenrock Group Tuesday entered into a bunker purchasing agreement with Chinese dredging firm Marine Construction & Development Co (MCD), a subsidiary of China Communications Construction Company Ltd.(CCCC), reports Reuters.
“In the past, [our] oil procurement activities have been very segregated into individual projects,” said MCD Chief Financial Officer Jin Xinxiang.
“With this new joint venture initiative, it is envisaged we will have all oil procurement activities centralised under one umbrella.
“We own over 200 construction vessels around the world which consume close to about 500,000 tonnes of marine fuel on average each year and we have many more ships on hire.”
MCD specialises in the marine engineering business and is involved in the construction of artificial islands, offshore airports, cross-sea bridges, modernised berths, coastal fending jetties, and more, according to its official website.
Published: 26 September, 2018
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