The Gulf Intelligence
Exclusive: Moscow lawyer who met Trump Jr. had Russian spy agency as client ... Sean Spicer resigns as Trump seeks to repair public image ... Special counsel asks White House to save Trump Jr., Russian meeting documents ... Trump picks financier Scaramucci to head White House communications: official ... U.S. State Department to ban American travel to North Korea ... Global pizza brands battle for Russia's far-flung regions ... Iran skips opportunity to upset nuclear deal over U.S. sanctions: sources ... GE shares fall as profit slumps, investors await new CEO's targets ... Transgender activists tell Texas Senate to ditch bathroom bill ... U.S. police seek missing Burundi students near Canada border ...
Where am I? bullet

Fujairah bunker hub ready to face challenges of IMO 2020 - conference

By:S&P Global Platts

Speakers at a bunker conference Tuesday in Fujairah in the UAE, the world's second largest bunkering hub, said it faced challenges from the lower global sulfur cap on marine fuels in 2020, but expressed confidence it could adapt to meet them. 

A live poll conducted at the 10th International Fujairah Bunkering & Fuel Oil Forum (FUJCON 2017) asked delegates what the impact on fuel oil demand in Fujairah would be as a result of the lower sulfur cap in 2020; 53% of respondents said fuel oil demand will fall significantly, 40% said demand would fall marginally, while only 5% said demand for fuel oil would rise, and 3% said there would be no effect. 

However, panelists downplayed the risk to the Fujairah storage and bunkering industry. 

Cockett Marine Oil DMCC CEO Cem Saral said demand for all types of marine fuel oil would not fall in 2020 in Fujairah, even if the share of residual fuel in this mix were reduced. 

More refineries in the region producing lighter ends would have a positive impact on demand for marine fuels in Fujairah, Saral added. 

"There's a lot of talk that as a result of the 2020 sulfur cap, fuel oil tank operators in Fujairah will suffer -- but fuel oil tanks can still handle low sulfur [0.5%] fuel, it's still a class three product. Traders will have to find a source for the low sulfur fuel oil, but then they can carry on bunkering as normal," Fujairah Oil Terminal's commercial director Malek Azizeh said. 



Last Update: 29/03/2017

Post a Comment:

Comment Title