May 16, 2011 [Platts] - Hong Kong bunker supplier Chimbusco Pan Nation plans to lease more storage capacity for fuel oil from ExxonMobil in July, an industry source close to the matter said Monday.
ExxonMobil owns 300,000 mt of fuel oil storage at Tsing Yi Island in Hong Kong. Chimbusco has already leased 60,000 mt from the oil major.
By the end of the year, Chimbusco Pan Nation plans to lease about 250,000-280,000 mt of storage capacity from ExxonMobil, the source said.
With the additional storage capacity, Chimbusco Pan Nation plans to sell more bunker fuel in South China such as at Zhuhai and Shenzhen, the source added.
