Canada's Field Upgrading Ltd. (Field Upgrading), which is working to produce low sulfur marine fuel ahead of the 2020 implementation of a global 0.50 percent cap on sulfur in bunkers, says it has already met with Singapore shipping companies - key members of its target market.
As Ship & Bunker previously reported, Calgary-based Field Upgrading is just one of the many Canadian companies looking for opportunities from tightening environmental regulations in the shipping industry, such as emission control areas (ECAs) and the 0.50 percent global cap on sulfur coming in 2020.
"So that's our market. We would take the sulfur out of heavy oil and then we would take it to tidewater and we would sell it into the shipping industry, because our oil fits the new sulfur regulations perfectly," said Neil Camarta, president and founder of Field Upgrading.
While the company currently has a pilot bitumen-cleaning plant, which was opened last spring, Field Upgrading says it is now working to open a 2,500 barrel per day (bpd) demonstration facility in an industrial area northeast of Edmonton.
The company says it will make a decision later this year if it the estimated CAN$75 million ($56.1 million) project will continue.