India’s Oil Demand Drives CMB Tech Fleet Diversification
By Dimitri Rhodes Nov 7 (Reuters) – Belgian oil tanker company CMB Tech says it will focus on the fast growing market in India as it reported third quarter results...
Its subsidiary, Petronas LNG, loaded the first such LNG cargo onto the world’s largest LNG bunker vessel Kairos at the Regasification Terminal Pengerang (RGTP) located in southeastern Johor, the company said in a statement.
“We believe that small-scale LNG opportunities will increase from the utilization of alternative cleaner fuel such as LNG,” Petronas LNG Chief Executive Officer Ezhar Yazid Jaafar said.
“The new regulation of 0.5 percent global sulphur cap to be imposed by the International Maritime Organisation (IMO) in January 2020 will make LNG the alternative fuel of choice for the shipping industry.”
Kairos has a capacity of 7,500 cubic metres, and it stopped in Malaysia to refuel while making its way from South Korea’s Hyundai Mipo Dockyard in Ulsan to Europe, Petronas said.
(Reporting by Florence Tan; Editing by Sunil Nair)
(c) Copyright Thomson Reuters 2018.
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