China's Chimbusco secures low-sulfur marine fuel deal
China Marine Bunker (PetroChina) Co Ltd, known as Chimbusco, has agreed on a one-year deal to supply a unit of COSCO Shipping Corp in 2020 with low-sulfur marine fuel that meets new global environmental rules, according to a Chimbusco statement reviewed by Reuters.
A Chimbusco executive told Reuters on Thursday that under the deal the marine fuel company will supply 500,000 tonnes of low-sulfur fuel oil to COSCO Shipping Lines Co Ltd next year.
In a global effort to combat air pollution from the shipping industry, International Maritime Organization rules will ban ship from using fuels with sulfur content above 0.5 percent from 2020, compared with 3.5 percent now unless they are equipped with so-called scrubbers to clean up sulfur emissions.
(Reporting by Aizhu Chen;
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