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
Garren Hay will be responsible for sales of the PANOLIN range of Environmentally Acceptable Lubricants for the Singapore sole distributor agent Gealubes Consulting & Trading Pte Ltd.
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.