World News
Synthetic Fuel Firm Quadrise Sees Share Price Quadruple
Update: Corrected share price currency and units from USD to GBX
Synthetic marine fuel manufacturer Quadrise Fuels International PLC (Quadrise) [LON:QFI] today issued a statement playing down recent gains in the company's share price, which has more than quadrupled over the last year with a 52-week spread of 7.00p to 28.19p.
Having spent most of the period trading between 10p and 15p per share, the price has been rising steadily since the August 29, 2013 announcement that contracts had been closed allowing Quadrise to start supplying its proprietary MSAR fuel to A.P.Møller-Mærsk (Maersk) later this year.
Activity peaked this morning, with shares up some 12% before easing back after the company said it was not aware of any particular reason for the gains.
"[The Directors of Quadrise] note the recent increase in the Company's share price and confirm that they are not aware of any specific reason for such a movement," Quadrise's statement read.
Shares ended the day closing up 7.58% at 25.55p.
Quadrise says it expects to put out its full-year results on October 7.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 502.00 | 4.50 | 617.00 | 5.50 |
| Rotterdam | 457.50 | 2.50 | 623.50 | 6.50 |
| Houston | 469.00 | 3.50 | 623.00 | 2.00 |
| Fujairah | 494.50 | 6.50 | 715.50 | 5.50 |
| Global 20 Ports Average | 526.00 | 3.00 | 712.50 | 11.50 |
| Global 4 Ports Average | 481.00 | 4.00 | 645.00 | 4.50 |
| Global Average Bunker Price | 569.00 | 2.00 | 750.00 | 5.50 |
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