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2019 Mid-Year Meeting Presentation

Thomas Murray 

 

 

 

Mid-Year Meeting Presentation


IMO 2020: Latest UMO Disruption Analysis


Presented by Thomas Murray, President, Modern Fuels, LLC

 

As the march to January 1, 2020 continues, all NORA members continue to monitor the timing and magnitude of the IMO 2020 impact on the used motor oil market. The new marine fuel requirement has been described as a once in a generation market disruption. 20 billion gallons per year are forecasted to move from HSFO to VLSFO. This session will inform NORA members across the spectrum of the most recent market information and provide an updated forecast for the second half of 2019.

 

Biography

Tom Murray is the President of Modern Fuels, LLC. He has developed proprietary technologies and lead project development efforts in the re-refining industry for over 2 decades. He has 6 issued patents in oil and information technologies, with additional patents currently pending. Companies he founded have raised over $45 million in equity capital and secured over $90 million in debt financing.

Tom’s activities are currently focused on delivery of proprietary licensed solutions for processing used oil and other feedstocks targeting imminent needs driven by worldwide implementation of IMO’s Marpol Annex VI on January 1, 2020.

He is a graduate of Harvard Business School (MBA 1984) and the College of the Holy Cross (Economics, Honors, Phi Beta Kappa, 1980).

 

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