Marfin Management S.A.M., the Monaco based Dry-Bulk ship manager, has successfully concluded an initial three month trial of SulNOxEco Fuel Conditioner, developed by the UK’s SulNOx Group PLC. Earlier this year Constantine Logothetis, co-founder of Lomar Shipping owner Libra Group, acquired a 16.3% stake in SulNOx.
The trial, onboard the 60,000 DWT Ultramax bulk carrier Paolo Topic, demonstrated fuel savings of up to 6.4% when the conditioner was utilised for burning Very Low Sulphur Fuel Oil (VLSFO) in the vessel’s MAN two-stroke engine.
Encouraged by these results, Marfin has committed to further trials with SulNOx on with up to six vessels across the fleet.
Commenting on the results and expanded trial, Ben Richardson, CEO of SulNOx, said:
“We are excited that Marfin has shown such significant savings onboard Paolo Topic, which could amount to c.$200,000 per annum and represent around 200% return on investment.
“Marfin’s agreement to purchase more product and expand the trial considerably will result in significant revenues for our group. We hope that this latest proof of product effectiveness with a very well-respected shipping company will encourage others in the industry to trial and adopt SulNOx.”
The Marfin experience reinforces further the value of low capex, drop-in fuel conditioners for a range of common marine fuels as a route to emissions reduction and cost savings. Additionally, these fully-biodegradable fuel conditioners serve as a simple and effective route to meet emissions regulations.
Alex Albertini, CEO at Marfin, added:
“We are thrilled about the preliminary results of this trial and see SulNOx products as a solution to help reduce global emissions, meet the IMO’s Carbon Intensity Indicator (CII), and offset the costs associated with the EU Emissions Trading System (EU ETS). We look forward to continuing to work closely with the SulNOx team to reduce our costs whilst also improving our carbon footprint further together.”
SulNOx’s latest trial with Marfin closely follows a successful five month-long trial and independent evaluation in October 2023 carried out in collaboration with a Hamburg-based shipping company and a Northern German University. This prior trial recorded similar, independently verified results — SulNOxEco™ reduced marine diesel consumption by a consistent 5-6% in real world conditions for a tanker using a two stroke marine diesel engine.
Other major shipping groups working with SulNOx as part of their sustainability drive include Canadian giant Teekay Corporation, the 2023 ShipTek Tanker Operator of the Year, and Greece’s Spring Marine.
Source: Hellenic Shipping News
