• A strategic alliance to decarbonise Europe’s largest maritime shipping hub, ARA
• Support our customers to comply with IMO GHG emission reduction targets (at least 20% emissions reduction by 2030 and at least 70% by 2050, compared with 2008 levels)
• Demand for biofuels set to grow rapidly: this partnership is well positioned to meet this demand
• Complementary capabilities: partnering VARO Energy’s expertise in biofuel supply with Orim Energy’s blending and bunkering facilities

Zug/Rotterdam 21 February 2024 — VARO Energy("VARO") and Orim Energy(“Orim”) are partnering to provide shipping customers in the Port of Rotterdam – and wider Amsterdam-Rotterdam-Antwerp (ARA) region - with biofuels. The agreement supports the decarbonisation of maritime transportation and inland shipping in Northern Europe. It also contributes to the wider targets set by the International Maritime Organization (IMO) to reduce the total annual GHG emissions from shipping by at least 20% by 2030 and at least 70% by 2050, compared with 2008 levels.

Current demand for Fuel Oil in ARA , Europe’s largest bunkering hub, is approximately 14 million tonnes per year. Supported by new EU regulations, the market for B30, a blend of 70% Fuel Oil and 30% biofuels, is expected to grow rapidly to the end of the decade. As a result of this joint initiative, VARO and Orim will be well positioned to meet this increased demand and support the decarbonisation plans of their shipping customers.

VARO’s significant biofuels trading capabilities and growing biofuel manufacturing asset base will complement Orim’s extensive distribution, storage and bunkering capabilities in ARA. Under the agreement, VARO will source, produce and blend various waste and advanced bio feedstocks to high quality bunker specifications. Orim will source the fuel and gas oils for blending and deliver the final biofuel blends to customers’ vessels.

VARO has a long track record of providing biofuels for maritime logistics. Since 2018, the company has supplied the Port of Rotterdam with HVO100 (100% Hydrotreated Vegetable Oil “HVO”) for use with the Port’s service fleet. In 2023 VARO signed an agreement with Höegh Autoliners to supply the company with 100% advanced biofuels for its shipping fleet.

The partnership is aligned with VARO’s strategy to become the partner of choice for customers in the energy transition by providing them with the low-carbon energy solutions they need to decarbonise.

Dev Sanyal, CEO of VARO, said: “Meeting rising demand for blended biofuels is critical to achieving the EU and IMO’s decarbonisation targets for shipping. Our experience in biofuels, combined with Orim’s logistics and bunkering operations, will help meet this demand at Rotterdam, Europe’s largest port facility. I am delighted to be entering into a strategic partnership with Orim and to further build on VARO’s long-established presence in Rotterdam. This is another step in our journey to enable the decarbonisation of the maritime sector.

Edwin Coppens, Managing Director of Orim, said: “Upcoming EU and IMO regulations drive the need to scale up with biofuels and ensure quality assurance going forward. Partnering with VARO allows us to do just that, using each other’s strengths to optimize our blending expertise and network. We will benefit from VARO’s extensive experience with biofuels, which includes joint testing with leading ship engine suppliers. Together, we can increase our sourcing and supply capabilities, extending our reach and further strengthening our position in the ARA region.”

Benefits of Biofuels:

Biofuels, especially those derived from waste and advanced feedstocks, significantly reduce CO2 and other emissions, such as sulphur oxides. Their production from organic materials, such as waste oils, contributes to reducing waste and efficient resource utilisation. With lower carbon intensity compared to conventional fossil fuels, biofuels release fewer carbon emissions per unit of energy, contributing to a cleaner and greener maritime industry. Furthermore, biofuels are compatible with existing ship engines and infrastructure, facilitating a smooth transition to more sustainable fuel options without costly modifications, and they have a positive impact on air quality by emitting fewer pollutants that affect human health.

About VARO

VARO Energy (“VARO”) is the partner of choice for customers in the energy transition by providing the sustainable and reliable energy solutions that they need to decarbonise. Engine 1 includes manufacturing, storage, distribution, marketing, and trading of conventional energies. Engine 2 activities are focused on sustainable energies and include biofuels, biogas, green hydrogen, e-mobility, and nature-based carbon removals. VARO plans to invest around $3.5 billion over the 2022-26 period, with two-third committed to sustainable energies. The company has a net zero target for scope 1, 2 and 3 by 2040. VARO is a Swiss-based private company.

About Orim

Orim Energy is an independent oil trading company that specializes in the blending and bunkering of marine fuels. Strategically located in the Netherlands and Malta, Orim has built a leading position as supplier in the Amsterdam-Rotterdam-Antwerp (ARA) market, and are expanding into the Mediterranean.

VARO Media Relations

Angela Nemeth
Phone: +41 (0) 79 512 94 21
Email: [email protected]

Brunswick

Will Medvei and Nabhan Malik
Phone: +44 (0)20 7404 5959
Email: [email protected]

Orim Media Relations

Edwin Coppens
Phone: +31 164 820 390/ +31 6 29 57 00 40
Email: [email protected]