BP and China’s Sinopec Fuel Oil announced the formation of BP Sinopec Marine Fuels on Wednesday, a 50-50 marine fuels bunkering joint venture.
The joint venture will be based in Signapore and will build on its partners existing bunkering locations and activities.
In addition to marine bunkering in Singapore, the joint venture will provide marine bunker sales in key global locations.
The ports served by BP Sinopec Marine Fuels Pte Ltd will be: Singapore; Fujairah, United Arab Emirates; Antwerp, Belgium; Rotterdam and Amsterdam in the Netherlands; Tianjin, Qingdao, Shanghai, Ningbo and Shenzhen, China.
BP is currently the largest marine fuel seller in Singapore, with average monthly sales of about 400,000 tons.