The upcoming 2020 sulphur cap has emerged as a great business opportunity for fast movers, and industry giant A.P. Moller – Maersk knows how to turn an industry challenge into profit.
Namely, the company has teamed up with Royal Vopak, an independent tank storage operator, on a project aimed at launching 0.5 percent sulphur fuel bunkering facility in Rotterdam.
“We trust that this initiative will put to rest some of the concerns the industry has on fuel availability as well as secure our continued competitiveness in the market,” says Niels Henrik Lindegaard, Head of Maersk Oil Trading, a division of A.P. Moller – Maersk.
Under the project, Maersk will be able to supply its ships with compliant fuel at Vopak’s modified facilities in the heart of the Port of Rotterdam, Vopak Terminal Europoort.
The shipping and logistics company said that the facility allows Maersk “safely blending, storing and handling different fuel types to ensure full compliance with the 0,5% sulphur cap.”
“With A.P. Moller – Maersk as an anchor customer, Vopak demonstrates the focus to position itself in the 0,5% sulphur fuels bunker market. We are dedicated to serve our customers to comply with the IMO 2020 regulations in the key global bunker hubs around the world,” says Hari Dattatreya, Global Oil Director Royal Vopak.
The deal is being announced on the back of numerous doubts being raised about the challenges and availability of compliant fuel once the 2020 sulphur cap enters into force.
What is more, the bunkering industry has been under a lot of spotlight due to the recent technical issues caused by contaminated fuel supply that have affected dozens of ships.
Contaminated fuel can lead to engine failures and associated losses of propulsion, placing the safety of the affected ship and crew at risk.