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

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.

United Arab Emirates  Fujairah (AE) 
J-ENG 6UEC35LSGH hydrogen-fuelled engine unveiling. Japan Engine completes land-based testing of landmark hydrogen-fuelled engine for large vessels  

Hydrogen co-firing rate of at least 95% achieved during factory testing.
Aerial view of tanker vessel at sea. Ethanol edges into shipping’s fuel mix as methanol crossover eases adoption barriers  

Rising interest from cargo owners, shared technology with methanol and Brazilian production growth push ethanol beyond regional niche status.
AiP award ceremony for multi-purpose fuel tank and FGSS design. ABS grants Hanwha Ocean approval for dual-fuel tank enabling LNG-to-ammonia switch  

In-principle approval awarded for fuel tank and supply system enabling LNG carriers to convert to ammonia without replacement.
Lloyd's Register issues Factual Statement (FS) for PureMetrics CEMS. Lloyd's Register confirms suitability of Daphne Technology's emissions monitoring system  

Factual Statement validates the PureMetrics design for monitoring greenhouse gas emissions from marine engines.
IMO building with national flags. IMO issues shipboard biofuel blend checklist developed by IBIA  

Checklist for FAME-based biofuels formally incorporated into IMO document, supporting crews handling biofuel blends for the first time.
YM Weight naming ceremony. Yang Ming names fourth LNG dual-fuel container vessel YM Weight  

Newbuild features high-pressure dual-fuel main engines capable of running on either LNG or low-sulphur fuel oil.
Bureau Veritas grants AiP to SDARI. Bureau Veritas grants AiP to SDARI’s LNG dual-fuel liquefied CO₂ carrier design  

Classification society approves 85,000-cbm vessel concept designed to support the growing carbon capture and storage sector.
Houston skyline at night. JuWonOil looking to strengthen with two Houston hires  

Texas-based firm is recruiting a marine lubricants sales executive and a marine fuels and distillates trader.
Lloyd's Register (LR), Seapeak, Kongsberg Maritime and Tunable JDP launch. Four firms partner to trial continuous emissions monitoring on LNG carrier  

LR, Seapeak, Kongsberg Maritime and Tunable will test onboard CO₂ monitoring against engine data and default emissions factors.
Bunker Holding logo. Bunker Holding reshuffles commercial leadership across brand portfolio  

Appointments announced across KPI OceanConnect, Glander International Bunkering and its digital sales operations.




   Fuels & Propulsion

Ammonia B100 B24 B30 Bio-LNG / LBM / LBG Biofuel Biogas Biomethanol CBM Dual-fuel E-fuel E-methane / e-NG E-methanol Electric Ethanol FAME Green hydrogen Green/e-ammonia HVO Hydrogen LNG LPG Lubes Methanol MGO Nuclear UCOME ULSFO VLSFO Wind



 Recommended