Marine fuel emulsification technology firm Quadrise Fuels International (QFI) believes its market will improve due to the upcoming 2020 regulation for the consumption of 0.5% sulphur limit marine fuel.
“We have been working hard during 2018 to develop a broader platform for our MSAR® technology across a larger number of projects,” Mike Kirk, Executive Chairman of QFI.
“Whilst we still have some way to go to progress these to commercial contracts, there has been a real change in the marine market, driven by the forthcoming IMO 2020 regulations, that has fundamentally improved the economics for MSAR® projects.
“Alongside this, adding to our existing relationships with YTL-PowerSeraya and JGC, our MOU with Freepoint will enable us to progress new projects and to potentially accelerate existing projects globally across a range of sectors.”
According to QFI, the marine market is now exhibiting a “substantive change” with regards to the acceptance of exhaust gas cleaning, or scrubbers, with significant momentum building, and large orders recently announced, on their implementation across all major segments including tankers, bulkers and container ships.
The development is being driven by an increased concern over distillate fuel availability and compatibility potentially impacting operations.
Further, increasing oil prices and a widening of the price spread between high and low sulphur fuels leading to material increases in fuel costs for shippers.
“The environment will further increase the economic benefits of MSAR® in combination with scrubbers further enabling the company to engage with shippers and engine manufacturers,” it ends.
Published: 30 July 2018
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