12OCT2018 - NEWS - Maersk Oil Trading takes oil storage space in Singapore at lease ahead of IMO's 2020 rule

Maersk Oil Trading has recently leased oil storage space in Singapore, signaling a push by one of the world’s biggest ship fuel buyers into the Asian bunkering hub ahead of changes to global fuel standards from 2020. The firm has leased 120,000 cubic meters of space for fuel oil for six months. Maersk Oil is a major ship fuel supplier globally but has not had its own storage tanks in Singapore for the supply of marine fuels to its customers, which include A.P. Moller-Maersk, the world’s biggest container line. The move comes ahead of the 2020 introduction of new rules on marine fuels that will limit the sulphur content to 0.5 percent, from 3.5 percent currently, to curb pollution.

Published by Editor - www.Livebunkers.com at 12-Oct-2018 05:35:40 [UTC] , contact editor at editor@livebunkers.com