CSR Mercuria 2019 - Flipbook - Page 57
network. Minerva currently has operating hubs
located in Geneva, Athens, New York, Singapore,
Antwerp and Las Palmas.
Minerva provides marine fuels expertise and
solutions that power customers’ fleets to their
destinations efficiently, cost-effectively, and safely. Our integrated supply and delivery network,
portfolio of logistical assets, and dedicated team
ensure reliability of service and transparency of
product.
Minerva’s fuel oil traders move more than 35m
tons of fuel annually, sourced from a diverse and
global system that includes a proprietary blending network, equity production, exclusive refinery
offtake agreements, crude-for-refined product
swaps, and spot cargo trading. Such breadth and
range enables us to supply customers when and
where they need fuel, at a lower all-in cost, with
greater flexibility, and at minimal financial and
performance risk.
With a fleet of 45 vessels and 1.5m cbm of storage capacity dedicated to bunkering, Minerva operates the world’s largest portfolio of fixed assets
dedicated to the bunkering industry.
The start of 2020 brought with it new MARPOL
regulations established by the International Maritime Organization (IMO) which required that all
vessels transition to using fuel with sulfur content
of no more than 0.5% by weight, as compared
with the previous standard of 3.5% by weight. The
IMO estimates this regulation will result in a 77%
reduction in sulfur oxide emissions from ships
and the prevention of 570,000 premature deaths
worldwide between 2020 and 2025. Minerva was
a leader in the transition, ensuring that the new
low sulfur fuels were available for customers in
all of its physical locations several months before
the January 1st deadline.
Minerva is also leveraging its bunkering supply
network infrastructure to also offer marine waste
collection and processing services consistent
with MARPOL 73/78 regulations. With a large
portion of marine pollution being generated from
illegal discharges of ship generated waste such
as bilge water and sludges, tank washings residues, and oil-contaminated ballast water; we believe there is a significant opportunity to reduce
pollution by providing safe and efficient collection
and processing services in the ports where we
operate.
With a business model built on the core principles
of value, transparency, and reliability, Minerva will
continue to be a leader in the bunkering industry’s
evolution toward cleaner fuels and greater environmental responsibility.
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