Saudi Arabia has invested significantly in its maritime sector with the launch of a new floating storage unit for marine fuel at Jeddah Islamic Port.

The announcement was first made on September 10 by the Saudi Ports Authority and Minerva Saudi Arabia, who highlighted that the new facility had a capacity to store 113,000 cubic metres of fuel, signifying a notable improvement in the Saudi maritime sector by developing its logistical and operational capabilities, according to the Saudi government.

The project itself is the culmination of collaborative efforts involving the Zakat, Tax and Customs Authority (ZATCA), Ministry of Energy, and the Transport General Authority (TGA), and aims to grow Saudi Arabia’s maritime economy in line with goals stipulated by the National Transport and Logistics Strategy – part of Saudi Vision 2030.

Most importantly, the facility has been launched with the capacity to store three types of marine fuel, including very high sulphur fuel oil (HSFO), low sulphur fuel oil (VLSFO), and marine gas oil (MGO), as well as the capability to support Minerva’s fleet of bunker tankers in their refuelling operations.

Additional positives listed by the Saudi government include improving the efficiency of bulk fuel deliveries, streamlining blending operations, and improving the loading of bunker barges that service vessels transiting the area.

Moreover, the new facility is also expected to support the country’s new bonded customs zone, which will facilitate improved clearance procedures for imports and exports.

As a key hub for Saudi Arabia's oil and gas industry, streamlining the refuelling process at

Jeddah is vital for supporting the country’s increased crude exports. Indeed, Saudi exports of the commodity recently reached their highest point in May this year, according to a Reuters report that cited data released by the Joint Organizations Data Initiative (JODI) on July 21.

Exports from the country increased to 6.191mn barrels per day bpd from 6.166mn bpd in April, while crude output for May lay at 9.184mn bpd – compared to 9.005mn bpd in April – with refinery crude throughput rising by 0.017mn bpd from 2.704mn bpd in April to 2.272mn bpd the following month.