The deal will allow Maersk Oil Trading to obtain around 1.25 million metric tons annually from PBF’s terminal at CPI Operations LLC on Delaware River South of New Jersey. PBF Logistics acquired CPI Operations LLC from Crown Point International on Oct. 1. The 1.25 million metric tons is about 10 percent of A.P. Møller – Maersk’s annual fuel demand.
“This processing agreement forms a cornerstone in Maersk’s fuel sourcing strategy for the IMO 2020 sulphur cap,” said Niels Henrik Lindegaard, head of Maersk Oil Trading. “The vast majority of our fleet will comply with the regulation through use of compliant low-sulfur fuels. “With the capability to produce and store compliant low-sulfur fuel on the U.S. East Coast, we take control of the fuel supply in a key maritime hub for us. We will continue our drive to ensure compliance in all geographies come 2020.”
In August, Maersk and Vopak announced a leasing agreement for storage of 2.3 million metric tons of 0.5 percent compliant fuel, equivalent of approximately 20 percent of Maersk’s annual fuel demand, at the Vopak Europoort Terminal in Rotterdam.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now