March 28, 2011 [C1 Energy] - Sinopec Fuel Oil Co signed a contract with Shandong-based Yantai-Titan Petrochemical Port Development Co in January 2011 to rent 60,000 cu m of bonded fuel oil storage for bunker business, according to a source with the latter.
The lease will last five years, the source said.
“Sinopec put 20,000mt of Singaporean mixed/cracked 180CST fuel oil into the tank farm in January and February, respectively. It started to supply bonded bunker fuel oil in Yantai in February,” he said.
A source with Sinopec Fuel Oil confirmed that the company had rented some storage in Yantai.
C1 reported earlier that Sinopec Zhoushan kicked off bonded bunker supply in Tianjin in October 2010.
