The global fuel oil market is around 300 million tons, with Singapore and Malaysia consuming around 50 million tons of fuel oil per year.The introduction of the IMO2020 rules and the impact of measures taken in response to the COVID-19 mean that key market dynamics, such as credit and compliance requirements, the market share of suppliers, and fuel oil purchasing patterns, are set to undergo significant changes. In the medium to long term, the broader era of transformation in marine energy to meet IMO2030 and IMO2050 GHG targets will drive the emergence of new players, technologies and opportunities.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Petroluxe plans to purchase five ships specialized in marine bunkering, which will be used to provide fuel services to customers at sea.

 

Petroluxe Energy relies on Petroluxe Refinery's tank farms for oil storage and transfer, improving oil quality and supply chain efficiency to reliably support its marine bunkering operations. the Refinery's tank farms have ample storage capacity for more than one million barrels of fuel per day. This ensures the safety and reliability of customer vessels during offshore refueling.

 

In addition, Petroluxe Energy plans to implement optimal transportation and supply chain management strategies for its marine bunkering operations through Refinery.

Petroluxe will fully utilize the technical expertise and customer network of its brother company, China HUAHAISHENG, relying on its specialized technicians and extensive experience, to jointly develop innovative solutions to meet the changing needs of its customers. It will also provide efficient and customized offshore bunkering services. to ensure the efficient operation and continued growth of the business.

 

Petroluxe aims to become a major player in the field of marine bunkering business and to provide reliable and efficient services to its customers (large domestic shipping companies). Like one of the clients, China Ocean Shipping Group (COSCO). COSCO Group is one of the largest shipping companies in China with a heavily congested network and a large fleet and extensive route network. Maritime bunkering services are required to ensure fuel supply to the ships during their voyages. COSCO provides Petroluxe with a stable customer base and has established a good relationship in the marine bunkering business.