Genoil, OW Bunker in Partnership for Low Sulphur Fuel Oil

Genoil and OW Bunker, one of the world’s leading physical distributors and resellers for marine fuel, have signed a Memorandum of Understanding, to build an upgrader for which OW Bunker will supply the feed oil to Genoil.

As part of the agreement, Genoil will build the Hydroconversion Upgrading System (GHU), while OW Bunker has agreed to purchase one million tons a year of low sulfur IFO from Genoil at an agreed price.

The GHU unit will upgrade and desulfurize the feed Genoil’s patented process to produce a marine fuel oil IFO 380, which complies with future IMO and EU regulations in the Emission Control Areas which intend to implement a limit of 0.1% sulfur content for the marine industry.

The bunker fuel market is estimated at around five million barrels per day. The purpose of this partnership is produce inexpensive low sulfur bunker fuel for the shipping industry. Genoil & OW Bunker have already selected a site in the port of Rotterdam.

OW Bunker is a great partner to have for this project. I am excited that this opportunity is coming together quickly and we are working on the contract now and expect it to be completed shortly.” said Bengt Koch, a former Executive Chairman of Atlantic Container Lines, and who is currently the Director of Genoil and together with Genoil’s president Bruce Abbott is leading the project.

The production of the first low sulphur fuel oil from the project is expected in three years from the date of the contract.

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. While we are still in the early stages of this initiative, we are pleased to be partnering with Genoil,” said Steffen Kortegaard Technical Director, OW Bunker.

genoil, April 15, 2014

Share this article

Follow World Maritime News

In Depth>

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >