April 4, 2019 / 3:25 AM / 3 months ago

China's Chimbusco agrees low-sulphur marine fuel deal with COSCO unit

SINGAPORE, April 4 (Reuters) - China Marine Bunker (PetroChina) Co Ltd, known as Chimbusco, has agreed a one-year deal to supply a unit of COSCO Shipping Corp in 2020 with low-sulphur 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-sulphur 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 a sulphur content above 0.5 percent from 2020, compared with 3.5 percent now unless they are equipped with so-called scrubbers to clean up sulphur emissions.

Reporting by Aizhu Chen; editing by Richard Pullin

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