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Marfin’s Albertini joins SulNOx board – joins Logothetis and Nistad supporting fueltech group

Tuesday, 06 February 2024 | 21:00

Alex Albertini, CEO of Marfin Management, the Monaco based Dry-Bulk ship manager, has joined the board of UK-listed fueltech group SulNOX as a Non-Executive Director. He becomes the third shipping industry name to lend his support to the green additive maker, alongside Constantine Logothetis and Nistad.

Marfin recently expanded its trial of SulNOxECo fuel conditioner after intial tests cut bunker consumption by more than 6%. Teekay Corporation has already agreed to pilot SulNOxECo fuel conditioner in Gibraltar and Singapore, while Greek group Spring Marine is adopting SulNOx products in its fleet to reduce fuel consumption and cut emissions.

Albertini, who has a 2% stake in SulNOx, has worked in the shipping industry for 25 years, holding a variety of leadership roles. In addition to his Marfin position, he is the Managing Director of Factor8 Shipping and holds board roles in specialist areas of protection and indemnity insurance, and shipping agencies.

Logothetis and Nistad, with 23.5% and 14.5% of SulNOx respectively, are not represented on the company’s board.

SulNOx Non-Executive Chairman Radu Florescu said: “I am delighted that Alex Albertini is joining the board as director. Alex brings with him a wealth of maritime experience combined with a pragmatic, hands-on, business approach that will strengthen our team. I look forward to working closely with him moving forward.”

Alex Albertini added: “I am truly honoured to join the board of SulNOx whose commitment to environmental innovation and sustainable solutions is both inspiring and necessary in today’s world. I look forward to contributing expertise, knowledge, and passion and work with a great team.”

SulNOx has 11 shipping companies trialling its product, with a combined fleet size of more than 800 vessels. A further three users with approximately a further 600 ships having agreed to paid trials. Around 30 other shipping companies, including many majors, are discussing trials, representing a further 4,000 ships.

SulNOx’s fuel additives, made from natural, biodegradable ingredients, reduce emissions while achieving significant cost savings for fleet operators in shipping and road transport. The products emulsify water, increase lubricity and oxygen availability to fuel, making it burn cleanly and more efficiently.
Source: SulNOX

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