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Quadrise fuel emulsification projects suffer $4.32 million loss

Bunker fuel development with Maersk provides ‘very positive outlook’, says Executive Chairman.

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Marine fuel emulsification technology firm Quadrise Fuels International (QFI) continued to post losses in its latest financial report for the year ended 30 June (FY) 2018.

It recorded net loss of £3.3 million (USD $4.32 million) in FY 2018, 20% lesser than net loss of £4.1 million in FY 2017.

Revenue in FY2018 was £9,000, 92% lower than revenue of £126,000 in FY2017.

Quadrise notes that the use of high sulphur fuel and on-board exhaust gas cleaning systems (EGCS or scrubbers) will be the lowest cost option to comply with the January 2020 International Marine Organisation (IMO) sulphur emissions regulations.

The economics of its emulsified synthetic heavy fuel oil (MSAR) fuel combined with EGCS installations on vessels are becoming increasingly favourable with the onset of 2020 and the market dynamic is assisting its ongoing engagements with refiners, shippers and engine manufacturers.

The company’s discussions with Maersk “have continued in relation to the Royalty Agreement and other associated issues and opportunities.”

“This has been a significant year for Quadrise, and whilst there was a major setback with our planned project in the KSA when our client could not deliver on its promises to progress the trial, I am very proud of the work delivered by the Quadrise team,” says Mike Kirk, Executive Chairman of QFI.

“After a prolonged period of stasis in the marine bunker market, the developments during the first half of calendar year 2018 provide a very positive outlook for Quadrise. We are using these catalysts to accelerate our business development activities with refiners and fuel consumers in the power, marine and industrial markets to progress MSAR® projects.

“Despite the challenges during the year, we have, through our activities, reduced risk in certain key areas. We realise that the path to success may not always be smooth, but we remain well placed to deliver on the substantial opportunities that we have; both directly and through our collaborative agreements with our partners including Freepoint and JGC.

“We are focused on building a sustainable business through the adoption of MSAR® technology at scale and through this to build investor confidence and value.”

Photo credit: Quadrise Fuels International
Published: 25 September, 2018

 

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Business

Singapore: Singamas Petroleum Trading welcomes newbuild “Pacific Wise” to bunkering fleet

The 6,948 dwt Yanmar-powered marine refuelling vessel has a carrying capacity of 6,603 mt and is capable of operation on B100 biofuel.

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Pacific Wise 1 MT

Singapore accredited bunker supplier Singamas Petroleum Trading Pte Ltd (Singamas) on 15 June welcomed its newly built Singapore-flagged bunker tanker Pacific Wise (SB2777C) to its bunkering fleet.

The Yanmar-powered marine refuelling vessel, which has a carrying capacity of 6,603 metric tonnes (mt), is capable of operation on B100 biofuel.

Pacific Wise joins Singamas’s current bunkering fleet comprising of Pacific Sincere, Pacific Honour, and Pacific Pride at Singapore port.

“The successful approval of Pacific Wise represents an important milestone in the sustainable growth of our company,” Eric Loke, Chief Operating Officer of Singamas, told Manifold Times.

“Their collective efforts have enabled Pacific Wise to enter commercial service successfully.

“As Pacific Wise commences operations, we remain committed to delivering safe, reliable and high-quality bunkering services while supporting Singapore’s position as the world’s leading bunkering hub.

“We look forward to serving our customers with the highest standards of safety, compliance, operational excellence and customer service.”

Pacific Wise 2 MT

Alex Ow Yong, BBM, Adviser to Singamas, highlighted the development further strengthens Singamas’ commitment to provide safe, reliable and efficient bunker delivery services while upholding the highest standards of safety, operational excellence and regulatory compliance for marine fuel deliveries at Singapore port.

“We extend our sincere appreciation to the Maritime and Port Authority of Singapore (MPA), China Classification Society (CCS), our shipyard, consultants, business partners and all stakeholders for their invaluable guidance, professionalism and strong support throughout the construction, classification, registration and approval process,” he stated.

 

Photo credit: Singamas Petroleum Trading
Published: 24 July 2026

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Business

Singapore-based law firm Helmsman names Lin Yan Yan as Chief Executive Officer

Lin joins with over 15 years of senior leadership experience across Asia, most recently as Vice President at ONE Championship, Asia’s largest global sports media property.

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Singapore-based law firm Helmsman names Lin Yan Yan as Chief Executive Officer

Singapore-based multi-disciplinary law firm Helmsman LLC on Friday (24 July) announced the appointment of Lin Yan Yan as Chief Executive Officer.

Lin’s appointment took effect in June 2026.

Lin joined the company from ONE Championship, Asia’s largest global sports media property, where she served as Vice President with cross-functional responsibility across corporate development, commercial, and corporate affairs.

At ONE Championship, she led global teams, drove market expansion, and spearheaded strategic initiatives including the global distribution of ONE’s media rights worldwide, the structuring and closing of commercial partnerships with leading media, brand and government organisations, the launch and scaling of new business lines, and fundraising across multiple financing rounds. She also led ONE’s Analytics & Insights function and oversaw the organisation’s China business.

Earlier in her career, Lin was a strategy consultant at L.E.K. Consulting before transitioning into principal investing roles at Mission Holdings, VisVires Capital Asia, and Volta Circle. She began her professional career as a litigation lawyer at Drew & Napier LLC.

Lin holds an MBA from INSEAD, an LLB (Hons) from the National University of Singapore, and has completed MIT’s Applied Data Science Program. She is admitted as an Advocate & Solicitor of the Supreme Court of Singapore and is fluent in Mandarin.

Ian Teo, Managing Director, Helmsman, said: “We are delighted to welcome Yan Yan to Helmsman as our Chief Executive Officer. Yan Yan joins Helmsman at an exciting stage of the firm’s growth. 

“Her record of building and running complex organisations across Asia, combined with her deep commercial and strategic instincts, makes her exceptionally well-placed to lead the firm through its next chapter. We look forward to the energy and vision she brings to this role.”

 

Photo credit: Helmsman
Published: 24 July, 2026

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LNG Bunkering

Stabilis Solutions targets Q3 2028 launch for Galveston LNG bunkering facility

Firm received a LOR from US Coast Guard following a review of a LNG Facility and associated waterfront LNG loading, marine transportation, and LNG bunkering operations in the Port of Galveston.

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Stabilis Solutions targets Q3 2028 launch for Galveston LNG bunkering facility

Clean energy production solutions provider Stabilis Solutions (Stabilis) on Friday (24 July) said the proposed Stabilis Galveston LNG Facility is anticipated to be in production by the third quarter of 2028. 

It will come complete with the delivery of the first new-build, dedicated Jones Act-compliant LNG bunker barge in the Galveston/Houston area.

“This is a significant regulatory and project milestone for Stabilis,” the company said. 

This comes following Stabilis receiving a Letter of Recommendation (LOR) from the US Coast Guard following their formal review of the proposed Stabilis Galveston LNG Facility and associated waterfront LNG loading, marine transportation, and LNG bunkering operations in the Port of Galveston.

“This critical endorsement of our project from the USCG Captain of the Port to the Port of Galveston and the Galveston Fire Marshal comes after a rigorous safety and security review process,” it said.

“This included a comprehensive evaluation of the potential risks, including navigation hazards, vessel traffic density impacts, emergency response capabilities, maritime security threats, and application of appropriate mitigation measures.” 

Manifold Times previously reported Stabilis terminating a previously announced 10-year agreement with a leading investment-grade global marine operator to supply LNG from the company’s proposed 350,000 gallon-per-day Galveston liquefaction facility.

As a result, the company expected delays to the anticipated final investment decision, project financing, and development timeline for the Galveston LNG facility. 

Related: Stabilis Solutions terminates 10-year LNG supply deal, expects delay in Galveston project

 

Photo credit: Stabilis Solutions
Published: 24 July, 2026

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