Maersk Signs Compliant Fuel Deal with PBF Logistics

Maersk containershipImage Courtesy: Maersk

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 Vopak 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.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >