MNA - The Saturday report by Fars news
Iran to turn Qeshm into Persian Gulf’s bunkering hub
Iran is planning to turn its Qeshm island into a major bunkering hub in the Persian Gulf to rival the United Arab Emirates’ Fujairah, according to a report published in the local media.
MNA - The Saturday report by Fars news agency said Iran has been investing heavily in the Salakh port of Qeshm, which is only 5 miles (8 kilometers) from major shipping routes in the Persian Gulf, to encourage more ships to bunker at the port instead of sailing to the distant port of Fujairah.
The report said four major refineries are being constructed in Qeshm, each with a capacity of processing 140,000 barrels of oil per day, to increase the supply of bunker fuel, gasoline, and asphalt in the island.
It said that the island has also introduced a long-term project for the storage of 100 million barrels of oil.
The Salakh port, located to the south of Qeshm, is currently supplying 50,000 metric tons per month of bunker fuel to ships.
However, the report said authorities seek to increase the capacity to 750,000 per month.
Estimates suggest Iran has a tiny share of the bunkering revenues in the Persian Gulf, where the industry is believed to be worth more than $30 billion. That comes as more than 50,000 ships travel to the area each year for trade or energy transport purposes.
MNA - The Saturday report by Fars news agency said Iran has been investing heavily in the Salakh port of Qeshm, which is only 5 miles (8 kilometers) from major shipping routes in the Persian Gulf, to encourage more ships to bunker at the port instead of sailing to the distant port of Fujairah.
The report said four major refineries are being constructed in Qeshm, each with a capacity of processing 140,000 barrels of oil per day, to increase the supply of bunker fuel, gasoline, and asphalt in the island.
It said that the island has also introduced a long-term project for the storage of 100 million barrels of oil.
The Salakh port, located to the south of Qeshm, is currently supplying 50,000 metric tons per month of bunker fuel to ships.
However, the report said authorities seek to increase the capacity to 750,000 per month.
Estimates suggest Iran has a tiny share of the bunkering revenues in the Persian Gulf, where the industry is believed to be worth more than $30 billion. That comes as more than 50,000 ships travel to the area each year for trade or energy transport purposes.