[ad_1]
Marex
2019-01-21 09:07:15
Monjasa, the second largest local bunker supplier in the Panama Cbad Zone, has brought in a new bunkering tanker in the region to meet growing demand. The 8,800 dwpl Accra is now the largest vessel of its kind operating in the cbad and is one of the youngest.
"Today, the total fleet of cargo barges in Panama is an average of 31 years old and 3,100 dwt. Thus, the use of our own quality oil tanker offers new opportunities for [ships] transit through the channel and also helps us to challenge the status quo on the local market, "said Monjasa Americas general manager Rasmus Jacobsen in a statement.
This move is part of the company's strategy to prepare for the 2020 IMO bunkering regulations. It is already operating two bunkering barges on the cbad, one in Balboa. and the other at Cristobal, and deliver about 40,000 tons of bunkers each month, enough to supply about one-tenth of the region's total market, which is 4.5 million tons per year.
"More than ever, port security is the number one concern of our customers. We already have the right sourcing partners in place to allow this transition to more environmentally friendly products, "said Jacobsen.
As of January 1, 2020, merchant vessels in international trade will be required to use fuel containing no more than 0.5% sulfur. The transport of non-compliant HFOs – with a sulfur content of 2.5% – will be prohibited unless the vessel is equipped with an exhaust gas scrubber. The transition process is expected to last several months and most operators plan to start operations in the third or fourth quarter of 2019.
IEA predicts that compliant fuel demand could have significant effects on the refined products market. Refiners are expected to increase capacity rapidly over the next few years, but as they will be processing larger quantities of low-sulfur crude to meet the demand for low-sulfur bunkers, the cost of other fuels that depend on same raw material could increase.
Source link
