ExxonMobil Eyes Marine Fuels Business Expansion As IMO 2020 Deadline Looms

I cover commodities, mostly oil & gas, often debunking risk premiums.IMO 2020 rule is as much a challenge for shipping companies as it is for their fuel vendors © POFAs the shipping world scrambles to get ready for the International Maritime Organization's IMO 2020 ruling, oil major ExxonMobil's marine fuels outfit is"digging deep" to be at the forefront of the emerging low sulfur market.

But according to Luca Volta, Marine Fuels Venture Manager at ExxonMobil , the oil major views the impending low-sulfur marine fuels climate as an emerging opportunity and not an operational problem. Initially ExxonMobil has named the ports of Antwerp, Rotterdam, Genoa, Marseilles, Singapore, Laem Chabang and Hong Kong, where compliant fuels would be available, with locations in North America to follow. However, Singapore was the obvious choice to get the drive going.

"It will be challenging for all of them to adapt; but all the top ten ports will have product available. ExxonMobil wants to be a significant player in this post IMO 2020 marine bunker and fuel market, and we are digging deep to make it happen." Luca Volta, Marine Fuels Venture Manager at ExxonMobil, says the oil major views the impending low sulfur marine fuels climate as an emerging opportunity and not an operational problem.But how is the shipping industry gearing up as the deadline approaches?"There are operational anxieties. But I've got say that I am seeing very detailed compliance plans being instituted by shipping companies.

Volta agreed with the anecdotal evidence and said ExxonMobil will work with shipping customers opting to go down that route."However, that exponential rise in the deployment of scrubbers is from a relatively low base. The latest market projections point to a couple of thousand scrubbers by 2020. Let's say these projections miss the mark by 100% and that there will 4,000 ships fitted with scrubbers.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

House Democrats eye Trump business taxes as part of investigationJoy Reid reports on the House Ways and Means Committee considering the possibility that in the course of investigating Donald Trump's personal taxes, they may end up needing to look at his business taxes as well. Yawn Earthworm Jim in the morning on a weekend? Come on. Ugh. Good luck
Sumber: MSNBC - 🏆 469. / 51 Baca lebih lajut »

Exxon, Chevron planning big expansions in shale drilling, a move which could shake up the industryBig oil is getting even bigger in shale, and that could speed up a shakeout among independents and force more mergers and joint ventures. More earthquakes coming soon! realDonaldTrump Oil Prices Up again by OPEC CARTEL.. Pls Bring down Oil Prices. See this Exxon /Chevron Projects In USA. They are profitable even with Lower Oil Prices SenateFloor HouseFloor FoxNews CNN CommerceGov USTreasury These are very companies poo-poo the Shale industry led by Texas independents and Aubrey McClendon. It goes to show you, bigger doesn’t mean they are smarter — typically dumber.
Sumber: CNBC - 🏆 12. / 72 Baca lebih lajut »