World News
Synthetic Fuel Maker Inks Deal to Start Maersk Supply
Synthetic fuel oil maker Quadrise Fuels International Plc. (Quadrise) today said it has closed contracts allowing it to start supplying fuel to A.P.Møller-Mærsk (Mærsk) later this year.
The company said the fuel, called MSAR, will be used to conclude proof of concept and performance evaluations on two main engine types.
Quadrise anticipates having verified results of the Maersk vessel performance evaluations of the latest version of the fuel, MSAR2, by the first quarter of 2014 and says that subject to those results, it will start producing commercial quantities of the fuel in 2014.
The company says it has a 1,000 tonne per day MSAR manufacturing unit at the 200,000 barrel per day Orlen Lietuva refinery in Mazeikiai, Lithuania.
"An impressive array of fuel and engine testing has been carried out on Marine MSAR2 to date by Quadrise, Mærsk and reputable third parties such as Wärtsilä and MAN Diesel. As a result Mærsk have now approved the concluding MSAR proof of concept evaluations on two operational vessels," commented Executive Chairman Ian Williams.
"We look forward to producing commercial volumes of Marine MSAR®2 and supporting these activities during this very exciting period for the Company."
The contracts to enable the supply of the fuel are with Maersk, Baltic petroleum refiner AB Orlen Lietuva, and coatings company AkzoNobel Surface & Formulation Chemistry AB.
Quadrise announced in June that sea trials conducted with Maersk had demonstrated the fuel's ability to run a two-stroke marine engine.
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
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| Rotterdam | 515.00 | 1.00 | 674.00 | 2.00 |
| Houston | 550.00 | 2.50 | 678.00 | 6.50 |
| Fujairah | 560.50 | 0.50 | 753.50 | 2.50 |
| Global 20 Ports Average | 586.00 | 0.00 | 761.00 | 2.00 |
| Global 4 Ports Average | 549.00 | 1.00 | 696.50 | 2.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 800.50 | 2.00 |
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