Recycled Bunker Firm Hails Successful First Full Year of Operation

by Ship & Bunker News Team
Friday February 10, 2017

France-based Ecoslops, which produces bunkers form recycled slops, today hailed 2016 a successful first full year of operations.

"2016 is the first full year of operation since the inauguration of our plant in Sines in mid-2015. The year was marked by many successes despite a volatile market environment, as oil prices fluctuated between $28 and $55 between the start and the end of the year," said Vincent Favier, Ecoslop's Chairman and CEO.

"We almost doubled our consolidated sales with the sale of refined products to internationally renowned industrial customers, which accounted for more than 50 percent of our invoicing. The confidence demonstrated by our clients has allowed them to gauge the quality of our production and our technological advancement."

Ecoslops 2016 unaudited results show the company's consolidated revenue for the year reached €4.3 million ($4.58 million), up from €2.3 million ($2.45 million) in 2015, an increase that Ecoslops attributes to growth in its core business of micro-refining and refined product sales, which totalled €2.2 million ($2.34 million), compared to €0.3 million ($0.32 million) in 2015.

Alongside those results, the company says its industrial unit increased in power, processing more than 17,000 tonnes of slops in 2016, 6,000 tonnes of which were processed in the first half of the year, and 11,000 tonnes in the second half.

"In terms of development, we started studies on our joint project with TOTAL in Marseilles and strengthened our balance sheet by the full exercise of outstanding warrants. 2016, the first full year of operation, was a very busy year with many successes that bode well for the potential of our technology on a global scale," said Favier.

As Ship & Bunker reported in July, Ecoslops says it is on track to meet its annual target of producing at least 30,000 tonnes of regenerated slops in 2017 from its Port of Sinès refinery.