The Financial Express

ENOC submits best bid to supply marine fuel

| Updated: July 15, 2020 16:25:30

File photo used for representational purpose File photo used for representational purpose

Emirates National Oil Company, or ENOC, has submitted the best bid to supply the initial consignments of cleaner marine fuel to Bangladesh.

State-run Bangladesh Petroleum Corporation, or BPC, received a total of four bids from global firms on close of the bid submission deadline last week.

The BPC has a plan to start importing cleaner marine fuel with 0.5 per cent sulfur from this month instead of 180 CST high sulfur fuel oil with 3.5 per cent sulfur as per the guideline of the International Maritime Organisation, or IMO, on cleaner environment.

The ENOC has offered to supply cleaner marine fuel at a premium rate of US$37 per tonne, while others offered as high as $50 per tonne, a senior BPC official told the FE on Monday.

The BPC intends to import around 75,000 tonnes of cleaner marine fuel during July-December 2020.

Shipment of the marine fuel should be on the cost and freight, or CFR, basis in Chattogram.

This is Bangladesh's first tender to import marine fuel with 0.5 per cent sulfur from international suppliers.

BPC has moved to import this fuel in line with the decision of the cabinet committee on economic affairs.

The environment and forests ministry has long been instructing the state corporation to import cleaner gasoil and marine fuel for safer environment.

The country has already selected lowest bidders and completed negotiation with the suppliers for importing 0.005 per cent sulfur diesel from July, instead of 0.05 per cent sulfur diesel.

The BPC will import half of its total marine fuel requirement through tender and remaining half through negotiation with suppliers, said the BPC official.


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