EMEA News
OW Bunker in Deal for 0.1% Sulfur Compliant IFO380 Bunkers
OW Bunker has signed an agreement with Canadian engineering technology company Genoil Inc. (Genoil) to build a system to produce low-sulfur fuel at the Port of Rotterdam, Genoil said.
"As a leading global fuel distributor, we have a responsibility to our customers to look at all options and innovations for compliance beyond expensive distillates," said Steffen Kortegaard, technical director of OW Bunker.
"While we are still in the early stages of this initiative, we are pleased to be partnering with Genoil, and look forward to working together to bring it to fruition.”
Genoil will build the hydroconversion upgrading system, while OW Bunker will supply feed oil and purchase one million tonnes per year of the low-sulfur fuel from Genoil.
The facility will produce IFO 380 fuel oil that complies with the 0.1 percent sulfur limit that goes into effect next year in European Emission Control Areas (ECAs).
“Many ship owners and operators are concerned about the impact that ECA regulations will have on their bottom lines. As a leading global fuel distributor, we believe we have a responsibility to our customers to look at all options and innovations for compliance beyond expensive distillates to help them maximise control over their operational costs," Steffen Kortegaard, Technical Director, OW Bunker, said in an emailed press release.
The hydroconversion system is expected to begin producing the fuel in about three years.
Genoil, which has not yet begun any commercial operations, considers patents for desulfurisation, upgrading, and separation processes to be its main assets, according to a management statement in September.
