Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Petrojam Reports Smooth Transition to New IMO Heavy Fuel Oil Specification

share with twitter share with LinkedIn share with facebook
06/05/2020 | 02:26pm EDT

On January 01, 2020, the International Maritime Organisation (IMO) introduced new regulations to lower the sulphur cap on marine fuels, reducing the global limit from 3.5% to 0.50%. This is designed to significantly curb pollution produced by ships worldwide.

Six months into the implementation of the new specifications for Very Low Sulphur Heavy Fuel Oil (VLSHFO), Petrojam Limited is reporting success in its transition to supplying this new grade of marine fuel.

General Manager of Petrojam, Winston Watson explained that as the main player in the local market for Heavy Fuel Oil (HFO), Petrojam prepared methodically for this switchover. 'We have been in preparation mode (for this switchover) for close to two years and so the transition was relatively smooth, with very few glitches,' he noted.

'We had a plan in place to be able to produce the material from the refinery and in fact started the production and sale of this product in mid-December well before the deadline,' he continued.

The Petrojam GM said that despite the challenges anticipated by JPS' conversion to LNG and changes in the quality requirements for the bunker market, from 3% to 0.5% sulphur, Petrojam recalibrated its business model to ensure continued supply reliability and commercial viability.

'It's been more than six months into our supplying this new grade of fuel and we are quite pleased with the level of sales we have been realizing; and despite COVID-19, we do anticipate that these will increase as time progresses,' the Petrojam GM noted.


The new 0.50% sulphur limit is said to create higher risks of fuel incompatibility. However, Mr. Watson notes that the company has introduced stringent measures at every level of the production process to ensure that the quality specifications are met. 'So far, we have received commendations from all of our bunker customers on the high quality of the product,' said Winston Watson.

'Over the years, Petrojam has consistently responded to local and international regulatory changes as they occur and has been successful in implementing these changes in a manner that satisfies all the considerations,' he added.

The IMO projects a 77% reduction in overall sulphur oxide emissions from ships, an annual reduction of around 8.5 million metric tonnes as a result of the new emission regulations.


Latoya Pennant

Public Relations Officer

Petrojam Limited

Tel: 876-547-0049

Email: Latoya.Pennant@petrojam.com

Website: www.petrojam.com


Petrojam Limited published this content on 05 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 June 2020 18:25:00 UTC

share with twitter share with LinkedIn share with facebook
Latest news "Economy & Forex"
05:33pMEDIA-Trump national security adviser heading to Europe for talks on China - Politico
05:05pU.S. weighs limited options to deal with China over Hong Kong -WSJ
04:54pTunisian parties seek to oust parliament speaker, Islamists want new gvrt
04:51pLos angeles county coronavirus cases rise by 3,322 to 133,549 total on sunday – county health dept
04:48pTexas covid-19 current hospitalizations rise by 327 to record high of 10,410 total on sunday, record high for 14th day in a row -state health dept
04:44pTexas coronavirus deaths rise by 80 on sunday to 3,192 total - state health dept
04:44pTexas coronavirus cases rise by 8,196 on sunday to 258,658 total - state health dept
03:57pIran and China Angle for Broad Partnership to Offset U.S. Pressure
03:56pUBISOFT ENTERTAINMENT : Assassin's Creed Valhalla – Assault Castles, Repair Broken Kingdoms, and Recruit a Cat Raider on November 17
03:48pJordan presses sweeping tax evasion crackdown to aid ailing economy
Latest news "Economy & Forex"