Opec secretary general made the remarks during the official launch of the project to establish the 250,000-barrels per day (bpd) capacity refinery to produce the International Maritime Organisation, IMO, 2020-compliant bunker fuel
Effective 2018, the tax reform law imposed a P2.50 excise tax on bunker fuel
oil and diesel oil per liter.
The UAE-based fuels firm, part of GAC Group , selected Holloway for the newly created position due to his previous trading and supply-related experience within the Middle East's bunker fuels
This underlines GAC's commitment to compliance and business ethics at an uncertain time for the global bunker fuels
sector, said a statement from the company.
Murray Bishop, head of the GAC Bunker Fuels
superyacht department, said close co-operation and communication between the various GAC offices and the yacht's crew was key to ensuring the yacht's smooth onward journey.
Many shipowners will go into 2020 unprepared for the International Maritime Organization's 0.5 percent global sulfur cap for marine bunker fuels
, panelists said at the Connecticut Maritime Association conference as questions remain about potential alternatives.
GAC Bunker Fuels
will also act as a bunker trader for their fleet providing price updates, market intelligence and supply quotations.
By contrast, firm demand bunker fuels
demand kept ex-wharf premiums of 380-cst fuel at a near 2-week high of $2.35 a ton above Singapore quotes.
India has extended the benefit of nil custom and production tax on bunker fuels
to domestic coastal movement of containers, in a move to decongest its roads and reduce carbon emissions, a government statement said.
M2 PRESSWIRE-September 4, 2019-: Bunker Fuel
Market: Global Share, Size, Trends and Growth Analysis Forecast to 2019-2024