World News
Quadrise: Dynamic Fuel Oil Market Fundamentals Play Well for Our Product
Fuel oil technology firm Quadrise has heralded the global fuel oil market's changing market fundamentals as beneficial to its product.
Changing market conditions have come from the International Maritime Organisation's (IMO) decision to drop the global sulfur cap on bunker fuel from its current 3.5% to 0.5%.
"There has been a real change in the marine market, driven by the forthcoming IMO2020 regulations, that has fundamentally improved the economics for MSAR® projects," Quadrise chairman Mike Kirk said.
Rising interest in exhaust gas cleaning technology or scrubbers, which allow ships to continue to use high sulfur fuel oil, and worries over the price and availability of distillates ahead of the IMO rule favour Quadrise's own brand of fuel oil, called MSAR®.
"The marine market is now exhibiting a substantive change with regards to the acceptance of exhaust gas cleaning," the company said.
"Significant momentum [is] building" with "large orders recently announced" applied across all major shipping segments", the company added.
In addition, there is "concern over the potential of distillate fuel availability and compatibility" to disrupt shipping operations.
Rising oil prices and a wider price spread between high and low sulphur fuels is affecting shipping's fuel costs.
"This environment further increases the economic benefits of MSAR® in combination with scrubbers further enabling the company to engage with shippers and engine manufacturers," the company said.
Quadrise's emulsified fuel oil is aimed at the marine and power generation segments.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 555.00 | 5.50 | 672.00 | 3.00 |
| Rotterdam | 516.50 | 4.00 | 653.50 | 0.50 |
| Houston | 556.00 | 8.00 | 681.00 | 10.00 |
| Fujairah | 548.00 | 1.00 | 749.50 | 2.50 |
| Global 20 Ports Average | 577.00 | 0.50 | 751.50 | 2.00 |
| Global 4 Ports Average | 544.00 | 1.50 | 689.00 | 4.00 |
| Global Average Bunker Price | 629.00 | 0.50 | 800.50 | 0.00 |
Popular Now More
-
Dec 23Since its launch in late June, the company's first 100 deliveries have primarily focused on LSMGO supply by barge to container ships and tankers in New York Harbor, CEO John Barbarise tells Ship & Bunker. -
Dec 23The company carried out worldwide marine fuel trading from offices in Singapore. -
Dec 24The 9,500 DWT heavy lift vessel Ursa Major sustained an engine room explosion in the Strait of Gibraltar at about 12:30 PM local time on Monday.