World News
Genoil: We Converted IFO380 HSFO Bunkers into IMO 2020 Compliant VLSFO
Canada's Genoil Inc. says it has successfully converted an IFO 380 HSFO marine fuel into an IMO 2020 compliant product.
Specifically, the firm says it used a feedstock with a sulfur content of 2.01% by weight, and using its Genoil Hydroconversion technology reduced the sulfur content to 0.39%.
The upcoming IMO 2020 rule will place a 0.50% sulfur cap on marine fuel from January 1, 2020.
"The feedstock sample represents typical high sulfur heavy fuel oil (HSHFO) and contained refinery residues and cracked material," said Genoil.
The processing took place at a facility in UFA Bashkortostan for an undisclosed shipping company who is "based in Norway and which operates a topping plant adjacent to a significant tank terminal in Rotterdam."
''The Genoil GHU Technology is robust enough to cope with such difficult cracked materials and residues such as fuel oil. We now have proven GHU technology can process a wider range of different feedstocks for many different GHU applications,' Dr. Raushan Telyashev, Senior Vice President of Genoil, said.
While the cost of performing the conversion was not discussed, the company has previously been bullish on the commercial viability of its product, predicting it "could be 90% cheaper than Gasoil at 2020."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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