A well-known Hong Kong shipowner today launches a new business in China. Antony Marden, who heads up dry bulk owner Fenwick Shipping, opened this morning a re-refining plant for engine oils in the southern Chinese city of Zhuhai. It is a big step forward for his firm, CleanOil Investment, which has a patented closed-loop technology that can reap a 90% recovery rate from feedstock, roughly one third higher than the industry standard.
Marden told the South China Morning Post about 90% of the company’s products will be sold to blenders and refiners on the mainland, while the rest will be marketed and sold under the brand CleanOil.
The Zhuhai plant has been built in association with Jebsen International and is the first of four of five that are in the pipeline.
Marden is well-known in Hong Kong maritime circles, the family’s shipping background dating back to Marden’s grandfather who helped a lot of Shanghai owners with financing when setting up in Hong Kong in the 1950s. In 1985, his company, Wheelock Marden, was bought by World-Wide Shipping (now BW) and Marden formed Fenwick Shipping with Oistein Thorsen. Marden also has a number of shipping investments in the Philippines, many in joint venture with Magsaysay.
