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) 
O Bunkering and Marafi Services merger ceremony. O Bunkering and Marafi Services announce merger  

Omani firms join forces to accelerate growth and improve operational efficiency.
Order ceremony for LNG dual-fuel container vessels. OOCL orders twelve 13,600-teu LNG dual-fuel container vessels from Chinese shipbuilder  

Hong Kong-based carrier’s first LNG-powered vessels mark entry into alternative fuel segment.
Lucia Cosulich vessel. Cosulich launches second methanol-ready bunker vessel at Chinese shipyard  

Lucia Cosulich is the second of four sister vessels being built for alternative fuel bunkering.
LNG bunkering vessel render. Wärtsilä Gas Solutions secures order for LNG systems on four bunkering vessels  

GSX Energy orders systems for vessels being built at Chinese shipyard Nantong CIMC Sinopacific.
Guo Si ship-to-ship (STS) bunkering operation. Chimbusco Pan Nation delivers 2,500 mt of B100 biodiesel in China’s largest single bunkering  

Hong Kong operation claims 89% greenhouse gas emissions reduction compared with conventional marine fuel.
Caroline Yang, Diana Mok and Francois-Xavier Accard, IBIA. IBIA appoints three new members to Asia regional board  

Caroline Yang, Diana Mok and Francois-Xavier Accard join the board following unanimous approval.
Reimei vessel. MOL achieves 98% methane slip reduction in LNG-fuelled vessel trials  

Japanese shipping company exceeds target in demonstration trials aboard coal carrier operating between Japan and Australia.
Seaside LNG logo. Seaside LNG expands C-suite with four industry veterans  

Houston-based firm appoints new leadership team as LNG bunkering market projected to reach $15bn by 2030.
International Maritime Organization (IMO) headquarters. ICS calls for swift adoption of global regulatory framework  

Secretary general notes MEPC discussions were constructive, but that many member states were still not in a position to adopt the framework without further changes.
WSC quote on maritime discussions. WSC welcomes 'constructive engagement' on global emissions reduction measure  

The liner industry has invested $150bn in dual-fuel ships, but emissions reductions depend on a global framework, notes WSC CEO.




   Fuels & Propulsion

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



 Recommended