Asia/Pacific News
IMO2020: Freepoint Sees Singapore Bunker Supply Opportunity
US commodities firm Freepoint is to supply IMO2020 grade fuel in Singapore from the fourth quarter.
The company has also said that it is upgrading a terminal owned by Indonesian state energy firm Pertamina where traders can blend oil into very low sulfur fuel oil to supply to the region's biggest bunkering hub, the company's head in Singapore, Ouyang Xiuzhang, was reported as saying by Reuters.
"We already have Asian clients booking our supply of low-sulfur fuel oil," which will start arriving in the fourth quarter, Ouyang said.
Freepoint Commodities is relying on its experience as a supplier of low sulfur fuel oil to power plants in the US and plans to ship US fuel oil components to blend IMO2020 grade fuel in Asia, he added.
Singapore is the world's biggest bunker market with annual sales or around 50 million metric tonnes.
