outbrain
Close  

China firm eyes PH as link in LNG trade

/ 12:34 AM October 21, 2016

China’s leading clean energy service provider Jovo Group Company Ltd. Guangdong (Jovo) is planning on making the Philippines a hub for its shipping operations in the region, the Subic Bay Metropolitan Authority (SBMA) said Thursday.

In a statement, the SBMA said Jovo was set to start its ship-to-ship transfer operations, which would involve carrying liquefied natural gas (LNG) via an oil tanker before being transferred to smaller vessels bound for China. Ports in China could not accommodate bulk carriers because of depth issues.

ADVERTISEMENT

Jovo International Business general manager Yuan Lu was quoted as saying the LNG would be brought to Subic from Australia and Indonesia via a 94,000-ton bulk carrier. The cargo would then be transferred to a smaller 47,000-tonnage capacity ship bound for China.

Lu said the operations of Jovo would then be assessed after five years, the results of which would determine if a regional hub should be established to accommodate the delivery of LNG to local markets and the rest of Southeast Asia.

FEATURED STORIES

He said Jovo’s long-term plan was to introduce the LNG to local markets in the Philippines, especially those in the transport sector as this kind of fuel is safe and environment-friendly.

The firm said it has decades of comprehensive experience in clean energy shipping, storage, processing and sales with zero accidents.

Jovo recently held a consultation with stakeholders in Subic.  —Amy R. Remo

Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, economy, Jovo, LNG, News
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.