Minerva Saudi has announced the deployment of a 113,000 cubic meter Floating Storage Unit (FSU) at Jeddah Islamic Port, marking a key step in the company's ongoing commitment to advancing Saudi Arabia's maritime services economy in alignment with the Kingdom's Vision 2030.
The new FSU enhances the efficiency of the Red Sea marine fuel supply chain, streamlining processes from bulk cargo sourcing and blending to bunker tanker loadings and delivery to oceangoing vessels.
The activation of a bonded customs zone around the FSU ensures smooth clearance of imports and exports. This FSU will store all major marine fuel grades, including Very Low Sulfur Fuel Oil (VLSFO), High Sulfur Fuel Oil (HSFO), and Marine Gas Oil (MGO).
It will primarily supply Minerva's fleet of modern bunker tankers, which will deliver fuel to vessels at key Saudi ports, including Jeddah Islamic Port, Yanbu Commercial Port, Yanbu Industrial Port, King Abdullah Port, and Jazan.
The logistics system will also support other licensed bunker suppliers.
Minerva's collaboration with Saudi authorities, such as the Ministry of Energy, Saudi Ports Authority, Zakat Tax and Customs Authority (ZATCA), and the Transport General Authority, has brought innovation to the local bunkering market.
A unique feature is the registration of the FSU as a bonded customs warehouse, enabling efficient operations while maintaining complete customs control over fuel goods.
Minerva's digital bunkering service, powered by ADP technology, ensures high operational efficiency, transparency in fuel quality, and real-time reporting to relevant authorities, including ZATCA.
Minerva Bunkering is the largest physical supplier of marine fuels and related solutions, providing services across more than 150 ports. The company procures marine fuel in bulk from various sources and delivers it to over 750 active customers, spanning all major commercial shipping sectors, including container ships, dry bulk carriers, cruise ships, tankers, and ferries.