Fujairah has emerged as a major bunkering and trading hub in recent years, and Abu Dhabi state energy giant Adnoc intends to take this to the next level following the launch of the Murban Futures contract earlier this year (MEES, 2 April). If everything goes according to plan, then the cluster of storage firms operating at Fujairah stand to profit from the increased trading activity. As such, key players are investing to capitalize.
The key factor for the emirate is that Murban Futures is a physically delivered contract, with buyers taking delivery at Fujairah on a free on board (FOB) basis. Adnoc’s EVP for trading and sales, Philippe Khoury says this will “bring the spotlight [on Fujairah] even more” (MEES, 26 March). (CONTINUED - 587 WORDS)