PetroChina Singapore has leased fuel oil storage tanks at Port Klang in Malaysia with plans to develop it into a bunker fuel supply hub.
According to Platts, trade sources said that storage capacity at the port is 220,000 m3 and that PetroChina has likely taken all of it.
The terminal has previously leased storage to companies including Petronas and PTT.
According to the sources quoted by Platts, PetroChina’s lease likely started in March and there have already been two Suezmaxes that have discharged fuel oil at the terminal.
Potential bunker fuel demand at Port Klang is estimated to have hit a high of 250,000 million tonnes per month, and is now estimated to be around 120,000 million tonnes per month.