Cagliari: Open for business. File Image / Pixabay
Italian refiner Saras' new bunker terminal on the Italian island of Sardinia is start up in June, according to its bunker head Giuseppe Gibin.
The terminal is to focus on very low sulfur fuel oil in keeping with the coming 0.5% global sulfur cap on bunker fuel.
Speaking to oil news provider and price reporting agency Argus Media, Gibin said that the company had a number of potential clients lined up.
"We have in place about 150 potential customers, but no term contracts so far," the executive was quoted as saying.
"We have already provided some indications of price for spot deals. We also see the customers are putting high value on a direct relationship with a refinery," he added.
The IMO2020-compliant product will be available from the Sardinian ports of Sarroch and Cagliari.
The very low sulfur fuel oil's main component is a low sulfur vaccum residue. The fuel will be produced at the company's 300,000 barrels a day Sarroch refinery at close to a 991 density maximum and 380cst viscosity.