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Exxon unit to lease Singapore's 1st LNG fueled bunker tanker

Oil major Exxon Mobil Corp. subsidiary Exxonmobil Asia Pacific Pte. Ltd. on July 25 entered into a two-year time chartered agreement with Sinanju Tankers Holdings Pte Ltd unit Sinanju Logistics Services Pte Ltd to lease a new-build bunker tanker, according to an Aug. 16 release from Sinanju.

The 7,990 deadweight tonnage vessel, which will be christened "Marine Vicky," will be Singapore's and Sinanju's first bunker tanker that will be fueled mainly by LNG. The bunker tanker will deliver Exxon's proprietary EMF.5 Engineered Marine Fuels to vessels within the port limits of Singapore starting in the first quarter of 2020, the release said.

According to Sinanju, the Maritime Singapore Green Port Program stipulates that registered vessels that are serviced by alternative or cleaner marine fueled harbor crafts during their stay in port stand to receive a 10% port dues concession.

The vessel is due to join Sinanju's fleet in December. Financial details were not disclosed.