Petrobras: storage. File image/Pixabay
Brazilian bunker company Petrobras is to increase its activity in the Singaporean bunker market.
The company has been supplying 0.5% sulfur bunker fuel at the southeast Asian bunkering hub since July and has plans to do more.
The company acquired low sulfur fuel oil storage space at the port's Horizon terminal earlier this year, according to price-reporting agency SP Global Platts.
"Currently, Petrobras has a storage of 120,000 metric tonnes (mt), and the plan is to sell around 100,000-150,000 mt per month on an ex-wharf basis," a company source was quoted as saying.
The company has been in the market for low sulfur fuel oil in the Singapore market since the introduction of emission control areas in the region. It is also a producer of sweet crude oil grades which lend themselves to low sulfur fuel oil production.