01NOV2019 - NEWS - LSFO and LNG – Freepoint crafts strategy to push growth in Asia

Freepoint Commodities has launched low-sulfur fuel oil sales in Asia to meet the region’s growing appetite for cleaner fuels and is now crafting a business strategy to start LNG trade in the region in the next three to six months.

The Connecticut-based trading company, which started supplying spot LSFO cargoes in Asia from its floating storage this month, is inching closer to signing its first term LSFO deal with a North Asian customer as the International Maritime Organization’s January 1 deadline to cap sulfur content in marine fuels at 0.5% draws closer, said Ouyang Xiuzhang, an investment banker-turned commodities trader who has been heading Freepoint’s Asia business since 2016.