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Century
Logistics (Johor) Sdn Bhd and Titan
Oil Pte of Singapore which operate a
mega-floating storage facility off
the south east coast of Peninsular
Malaysia expect further increase in
the monthly throughput of fuel oil.
The
facility, which commenced full
operation with the first fuel cargo
in August, has targeted 400,000
tonnes monthly from 300,000 tonnes
handled in the first month of its
operation.
The
facility, off the coast of Johor, is
used primarily as an
outside-port-limits storage facility
for fuel oil cargoes from the Middle
East and Africa, which are then sold
on to bunker suppliers in the
region.
According
to Century Logistics (Johor) Sdn Bhd
chief executive Jaafar Mohamed said
that the New Renowntanker was at
present producing a throughput of
about 300,000 tonnes of bunker fuel
a month, and he was confident that
it would hit the 400,000 tonnes
mark.
He
said the company is not affected by
the slow down in the economy.
The
mega-floating facility is sourcing
380 cst fuel oil from Middle East,
Africa and the Mediterranean region.
The
fuel oil is blended with 180 cst
fuel and re-loaded into the feeder
vessels for clients in China.
The
company has several oil tankers of
sizes ranging from 2,000 to 20,000
tonnes to transport bunker fuel to
the Chinese market.
Jaafar
said plans are in pipeline for the
venture company to set-up an
on-shore bunkering terminal complex
in Pasir Gudang.
“If
things goes well we will be
finalising land deal for onshore
facilities by first quarter of next
year,” he added.
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