Marfin Management S.A.M. confirms an expanded trial of SulNOx products onboard up to six vessels following successful initial trial of drop-in fuel conditioner SulNOxEco™.
LONDON, 20 NOVEMBER 2023: Marfin Management S.A.M., a Monaco based Dry-Bulk ship management company, has successfully concluded an initial 3 month trial of SulNOx’s all-natural, fully biodegradable fuel conditioner, SulNOxEco™ onboard the 60,000 DWT Ultramax bulk carrier Paolo Topic. The results demonstrate 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.
Acknowledging these results, Marfin has expanded their existing agreement with SulNOx to carry out further trials onboard up to six vessels across Marfin’s fleet to maximise fuel and cost savings onboard during this period.
Ben Richardson, CEO of SulNOx Ltd, 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.
“The fact that Marfin has agreed to purchase more product and expand the trial to as many as six vessels will result in significant revenues for the group. We hope that this latest proof of the effectiveness of our products with a very well-respected shipping company will encourage other shipping companies to trial and adopt SulNOx themselves,” he said.
The success of the initial trial and a further expanded agreement are evidence of 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, said: “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 follows closely on the heels of 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 more than 5% in real world conditions for a tanker using a two stroke marine diesel engine.
