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Oil and shipping companies are facing major changes as a result of the International Sulfur Directive, which will come into effect in 2020. The directive will reduce the permissible sulfur content in marine fuel from 3.5 to 0.5 percent. Major investment will be needed, including conversion work to vessels and the development of new fuel types. Stena Oil is collaborating with several oil companies and driving the development of a new fuel that will meet these requirements.
During the year, Stena Oil signed an agreement with the Port of Frederikshavn for a new marine fuel terminal, fully adapted to the requirements of the sulfur directive. This will be the largest of its kind in Scandinavia, with a capacity of 75,000 cubic meters.
The new terminal will also provide a base for Stena Oil’s work with the EMSA (European Maritime Safety Agency) in the rapid deployment of specially adapted vessels and equipment for oil spills in Scandinavian waters.