Maersk is collaborating with PBF Logistics, to deliver 10% of its annual fuel demand ahead of the International Maritime Organization’s 2020 global sulphur regulation.
Specifically, the deal focuses on the two companies to process crude oil at CPI Operations LLC, a PBF Logistics LP terminal facility in New Jersey.
This would make it easier for Maersk to supply IMO 2020-compliant marine fuel to its customers on the US East Coast.
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The production on a yearly basis will be approximately 1.25 million metric tonnes, which equals to 10% of A.P. Moller – Maersk’s annual fuel demand.
Moreover, Niels Henrik Lindegaard, Head of Maersk Oil Trading noted that the agreement between the two companies is a highlight to Maersk’s fuel sourcing strategy.
He continued stating that the majority of their fleet will be fuel-compliant with IMO’s regulations.
Finally, 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.
