Red Sea Bunkering Adds Floating Storage to Boost Djibouti Market

by Ship & Bunker News Team
Thursday February 18, 2021

Marine fuel supplier Red Sea Bunkering has taken on an oil products tanker as floating storage to boost marine fuel supply in Djibouti.

The company has acquired an 80,000 DWT product tanker to act as floating storage offshore Djibouti, Abdi Ismail Kahin, general manager of Red Sea Bunkering, said at Petrospot's Maritime Week Africa event this week.

The tanker will be operational by the end of March.

Red Sea Bunkering is the sole physical supplier in Djibouti, and was set up in 2015.

"In a very short time Red Sea Bunkering has brought back Djibouti as a leader on the bunkering map in the region, and between mid-2015 and 2020 Red Sea Bunkering has supplied fuel oil and gasoil to over 5,000 vessels," Kahin said in his presentation.

Kahin also highlighted a deal signed with Chimbusco in July to bring a floating fuel production facility to the country that could produce as much as 6 million mt/year of VLSFO.