Asia/Pacific News
Sinopec Planning 100 Barge VLSFO Bunker Supply Fleet
Sinopec is planning to create a 100-strong fleet of bunker barges as part of its efforts to become a dominant regional VLSFO supplier.
The move would represent one of the Chinese refiner's biggest ever investments, according to a report by Reuters.
Half the fleet would be newbuilds in the 8,000 to 10,000 dwt range, and the remainder 3,000 to 4,000 dwt vessels under charter.
"To match Sinopec's goal of supplying 10 million tonnes of IMO compliant fuel next year and 15 million tonnes in 2023, [Sinopec] must have a fleet of its own," a Zhoushan-based shipping executive was quoted as saying.
If those numbers were realized it could put Sinopec among the very largest bunker suppliers by volume.
The scale of Sinopec's IMO2020 ambitions have been known for several months, with reports in June indicating it was already producing VLSFO at 10 of its plants.
Sinopec, also known as China Petroleum & Chemical Corporation, also has plans of turn Hambantota, Sri Lanka into a bunkering hub.
