Sign up
Log in Sign up
Thu 12 Mar 2015 12:34

Fujairah Oil Terminal inaugurated


Facility is said to have a total storage capacity of 1.177 million cubic metres.

A new fuel storage terminal in the United Arab Emirates, Fujairah Oil Terminal FZC, was inaugurated on Wednesday by Sheikh Hamad bin Mohammed Al-Sharqi, the ruler of the sheikhdom of Fujairah.

The facility is owned by the government of Fujairah, Singapore-based Concord Energy Pte Ltd and Hong Kong firm Sinomart KTS Development Ltd - a subsidiary of Sinopec Kantons Holdings Ltd.

Sinomart KTS acquired a 50 percent stake in the Fujairah storage project after agreeing to pay US$25.05 million in early 2013.

The construction of the terminal was given the green light in March 2013 after a complex loan, security and swap package for US$251,860,000 was arranged by Crédit Agricole Corporate and Investment Bank, First Gulf Bank PJSC, Maybank Investment Bank Berhad, National Bank of Fujairah PSC, Natixis, Dubai Branch and The Bank of Tokyo-Mitsubishi UFJ, Ltd, Dubai Branch.

The total cost of the project has been estimated at US$342 million.

The facility is to be used to store crude oil, fuel oil, gasoil, gasoline and jet fuel. It has a capacity of 1.177 million cubic metres and 34 reservoirs.

At the start of the inauguration ceremony, Sheikh Hamad unveiled the foundation stone of the project and toured the terminal.

He also praised the project, referring to its positive contribution to the economic development of the emirate, and stressed the importance of striking international partnerships.

The event was attended by H.H. Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, and Sheikh Saleh bin Mohammed Al Sharqi, Chairman of the Department of Industry and Economy in Fujairah.

Marius Kairys, CEO of Elenger Sp. z o.o. Elenger enters Polish LNG bunkering market with ferry refuelling operation  

Baltic energy firm completes maiden truck-to-ship LNG delivery in Gdansk.
Samsung Heavy Industries (SHI) virtual reality (VR) training program developed in collaboration with Evergreen. SHI develops VR training solutions for Evergreen's methanol-fuelled ships  

Shipbuilder creates virtual reality program for 16,500 TEU boxship operations.
Illustratic image of Itochu's newbuild ammonia bunkering vessel, scheduled for delivery in September 2027. Itochu orders 5,000 cbm ammonia bunker vessel  

Japanese firm targets Singapore demonstration after October 2027, with Zeta Bunkering lined up to perform deliveries.
Bunkering of the Glovis Selene car carrier. Shell completes first LNG bunkering operation with Hyundai Glovis in Singapore  

Energy major supplies fuel to South Korean logistics firm's dual-fuel vessel.
Orient Overseas Container Line (OOCL) vessel. CPN delivers first B30 marine gasoil to OOCL in Hong Kong  

Chimbusco Pan Nation claims to be first in region to supply all grades of ISCC-EU certified marine biofuel.
The Buffalo 404 barge, owned by Buffalo Marine Service Inc., performing a bunker delivery. TFG Marine installs first ISO-certified mass flow meter on US Gulf bunker barge  

Installation marks expansion of company's digitalisation programme across global fleet.
Sogestran's fuel supply vessel, the Anatife, at the port of Belle-Île-en-Mer. Sogestran's HVO-powered tanker achieves 78% CO2 reduction on French island fuel runs  

Small tanker Anatife saves fuel while supplying Belle-Île and Île d'Yeu.
Crowley 1,400 TEU LNG-powered containership, Tiscapa. Crowley deploys LNG-powered boxship Tiscapa for Caribbean and Central American routes  

Vessel is the third in company's Avance Class fleet to enter service.
The inland LNG bunker vessel LNG London. LNG London completes 1,000 bunkering operations in Rotterdam and Antwerp  

Delivery vessel reaches milestone after five years of operations across ARA hub.
The M.V. COSCO Shipping Yangpu, China's first methanol dual-fuel containership. COSCO vessel completes maiden green methanol bunkering at Yangpu  

China's first methanol dual-fuel containership refuels with green methanol derived from urban waste.

↑  Back to Top


 Recommended