BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News



Maersk Oil Trading grabs Singapore fuel oil storage: sources

Leases 120,000 cbm at Tankstore oil terminal, says Reuters.



Image credit: Maersk


Updated on 11 Oct 2018 15:01 GMT

Maersk Oil Trading (MOT) has leased 120,000 cubic metres (cbm) of fuel oil tank storage in Singapore, according to Reuters.

The storage space is said to have been contracted for six months at the Tankstore oil terminal, located at Pulau Busing (an island located off the southwestern coast of Singapore), with the booking coming at a time of low storage demand as the oil futures market is currently in backwardation - where future prices are lower than the current month.

The latest development follows the announcement in August that Vopak is teaming up with MOT's parent company, A.P. Moller - Maersk, to provide the container shipper with a 0.5-percent-sulphur-fuel bunkering facility in Rotterdam, Europe's biggest bunkering port.

The Netherlands facility, located at Vopak Terminal Europoort, will enable Maersk to blend, store and handle different fuel types in a move designed to ensure full compliance with the upcoming 0.5 percent global cap on fuel sulphur content in 2020.

MOT's Singapore-based business, Maersk Oil Trading Singapore Pte Ltd, was founded in 2012 and is a licensed physical supplier in the city-state after being granted a bunker supplier licence by the Maritime and Port Authority of Singapore (MPA) in July 2016.

Last year, the firm was ranked as Singapore's 27th-biggest supplier - up nine places compared to the previous year.

MOT, which also has offices in Copenhagen, New York and Rotterdam, is responsible for sourcing roughly 11.5 to 12 million tonnes of marine fuel per annum for the entire fleet of the A.P. Moller - Maersk Group.

Commissioned in 1990, the Tankstore terminal in Singapore has a total tankage capacity of two million cubic metres in 112 tanks ranging in size from 300 cbm to 60,000 cbm, with 12 berths that can handle vessels up to 236,000 deadweight tonnes (dwt).






Related Links:

Vopak and Maersk to launch 0.5%S bunkering facility in Rotterdam
Sentek named Singapore's top supplier by sales volume in 2017
Maersk Oil Trading becomes licensed supplier in Singapore
Maersk Oil Trading Singapore Pte. Ltd.
Singapore
Singapore

Latest News:

Verifavia signs up Wallem and Seaborn
The lowdown on bunker spill paperwork required in Singapore
MEPC 73: HFO ban events scheduled
Oil and fuel oil hedging market update
Brent climbs above $80 as supply concerns take centre stage
MEPC 73: IMO must renew commitment to Arctic HFO ban | CAA
IMO launches toolkits to tackle ship and port emissions
Bunker-saving JIT study presented at IMO HQ
Working group to finalize Initial Strategy programme for MEPC 73
Oil and fuel oil hedging market update
Bunker issues pack MEPC 73 agenda
Volatility around $80




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio de Janeiro
Rotterdam
Santos
Singapore
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events