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Maersk signs compliant fuel deal with PBF Logistics

Danish shipping major Maersk has
signed an agreement with PBF Logistics, which would deliver 10% of its annual
fuel demand ahead of the International Maritime Organization’s (IMO) 2020
global sulphur regulation.

Under the deal, Maersk would source
and PBFX would process crude oil at CPI Operations LLC, a PBF Logistics LP
terminal facility in New Jersey, United States. This would enable Maersk Oil
Trading to supply IMO 2020-compliant 0.5% marine fuel to its customers on the
US East Coast.
Annual production will be around
1.25 million metric tonnes (mt), the equivalent of around 10% of A.P. Moller –
Maersk’s annual fuel demand.
“This processing agreement forms a
cornerstone in Maersk’s fuel sourcing strategy for the IMO 2020 sulphur cap,”
 Niels Henrik Lindegaard, Head
of Maersk Oil Trading, said.
“The vast majority of our fleet will
comply with the regulation through use of compliant low sulfur fuels. With the
capability to produce and store compliant low sulfur fuel on the U.S. East
Coast we take control of the fuel supply in a key maritime hub for us. We will
continue our drive to ensure compliance in all geographies come 2020.”
In August 2018, Maersk and
signed a leasing agreement for storage of 2.3 million mt 0.5% compliant fuel,
equivalent of around 20% of Maersk’s annual fuel demand, at the Vopak Europoort
Terminal in Rotterdam.
World Maritime News

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