Tue 27 Mar 2018 13:31

Quadrise chairman upbeat despite 'hugely disappointing' Saudi setback


UK firm presses on with plan to develop series of MSAR projects; posits that interest in scrubbers has 'intensified'.


Mike Kirk, Executive Chairman of Quadrise Fuels International plc.
Image: Quadrise Fuels International
The Executive Chairman of Quadrise Fuels International, Mike Kirk, on Tuesday said it was "hugely disappointing" that all the agreements required to move forward with its production-to-combustion trial in Saudi Arabia had not been obtained.

As a result of the delays, the refinery firm involved in the process has warned that it may no longer be in a position to support the project if the certain agreement documents are not signed by April 1.

In terms of trying to find a viable solution to the problem, Kirk explained that the company would "continue to review parallel options to progress this project with an alternative refinery partner", but admitted that this was "unlikely to be deliverable" in the short term.

Kirk added that Quadrise was also looking at alternative projects to establish MSAR in the power market, including those that could potentially use the MSAR manufacturing facility on site.

"Our refinery partners have continued to be very supportive of Quadrise and we look forward to being able to discuss further potential trial and commercial projects with them in due course. We are, alongside this, continuing our existing business development activities to build a series of MSAR projects in both the power and marine markets," Kirk remarked.

As developer of a high-sulphur, low-cost alternative to heavy fuel oil that will need to be used in conjunction with scrubber technology in order to comply with IMO's 0.5% global sulphur cap in 2020, Quadrise posited in its latest financial summary that interest in scrubbers as a compliance option had "intensified" during the six-month period ended December 31, 2017. This is despite Maersk pulling out of its MSAR fuel trial last year, with the shipping giant deciding against the use of abatement technology as a strategy moving forwards.

"Given the widening price differentials between low[-] and high[-]sulphur fuels, we believe the economic case for MSAR will improve further moving forward to 2020 and beyond and Quadrise is increasing its engagement with shipping companies, engine and EGCS manufacturers to exploit this," Quadrise argued.

"The Company continues to explore selected opportunities with refinery and oil companies globally, linked to potential power and marine supply opportunities to take advantage of IMO 2020 price advantages for MSAR fuel," Quadrise added.


Lease agreement between Inter Terminals Sweden and the Port of Gothenburg, signed on July 1st. Pictured: Göran Eriksson, CEO of the Port of Gothenburg (left) and Johan Zettergren, Managing Director of Inter Terminals Sweden (right). New Gothenburg lease an opportunity to expand green portfolio: Inter Terminals  

Bunker terminal operator eyes tank conversion and construction projects for renewable products.

Map of US Gulf. Peninsula extends US Gulf operation offshore  

Supplier to focus on Galveston Offshore Lightering Area (GOLA) in strategy to serve growing client base.

The M/T Jutlandia Swan, operated by Uni-Tankers. Uni-Tankers vessel gets wind-assisted propulsion  

Fourth tanker sails with VentoFoil units as manufacturer says suction wing technology is gaining traction.

Port of Gothenburg Energy Port. Swedish biomethane bunkered in Gothenburg  

Test delivery performed by St1 and St1 Biokraft, who aim to become large-scale suppliers.

Image from Cockett Marine Oil presentation. Cockett to be closed down after 45 years  

End of an era as shareholders make decision based on 'non-core nature' of Cockett's business.

Petrobras logo. Petrobras confirms prompt availability of VLS B24 at Rio Grande  

Lead time for barge deliveries currently five days.

Opening of the IMO Marine Environment Protection Committee (MEPC), 83rd Session, April 7, 2025. IMO approves pricing mechanism based on GHG intensity thresholds  

Charges to be levied on ships that do not meet yearly GHG fuel intensity reduction targets.

Preemraff Göteborg, Preem's wholly owned refinery in Gothenburg, Sweden. VARO Energy expands renewable portfolio with Preem acquisition  

All-cash transaction expected to complete in the latter half of 2025.

Pictured: Biofuel is supplied to NYK Line's Noshiro Maru. The vessel tested biofuel for Tohoku Electric Power in a landmark first for Japan. NYK trials biofuel in milestone coal carrier test  

Vessel is used to test biofuel for domestic utility company.

Pictured (from left): H-Line Shipping CEO Seo Myungdeuk and HJSC CEO Yoo Sang-cheol at the contract signing ceremony for the construction of an 18,000-cbm LNG bunkering vessel. H-Line Shipping orders LNG bunkering vessel  

Vessel with 18,000-cbm capacity to run on both LNG and MDO.


↑  Back to Top