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Quadrise Plc gives 2023 overview and updates on low-carbon bunker fuel projects

Structured process is now underway to seek commercial partners that would allow firm to be able to quickly scale up in preparation for the expected growth of MSAR® and bioMSAR™ sales, says Quadrise.

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MSAR® and bioMSAR™ emulsion technology and fuels supplier Quadrise on Monday (27 November) provided an update ahead of the Company’s Annual General Meeting (AGM).

The firm said it recently published a 2023 sustainability report setting out its efforts to address demand for solutions to decarbonise shipping, and to build capacity for the supply of our low-carbon fuels in the US. 

In advance of the anticipated developments outlined below, a formal process is now underway to seek commercial partners in both the marine and US-focused low-carbon fuel markets who would be able to contribute the resources necessary to scale up growth rapidly once trials have been completed.

“In this regard, we have also been particularly heartened by the success of bioMSAR™ in Morocco, as announced on 22 November 2023, demonstrating the viability of bioMSAR™ in an industrial application,” it said.

Building on this, there has been considerable RDI progress at the Quadrise Research Facility (QRF) with commercial partners to develop bioMSAR™ formulations using lower cost, lower-carbon, and globally abundant biomass-derived sugars produced using various technologies. 

“This is a clear pointer to the future for the company as the need for commercially competitive net-zero fuel solutions grows in urgency,” it said in a statement. 

The Company’s progress in each of its key projects towards their next stages is described below:

Morocco: The industrial demonstration test of MSAR® and bioMSAR™ fuels at the client’s site in Morocco was successfully completed, as announced on 22 November 2023. This was the first demonstration of bioMSAR™ in a commercial application and Quadrise is now preparing a technical report to submit to the client within the next month. The parties now look forward to entering into discussions for long-term commercial supply in conjunction with reaching an agreement for testing at other client sites to expand supply opportunities for MSAR®, and in the future, bioMSAR™ fuels.

Marine: Agreements with project stakeholders covering the Proof-of-Concept and Letter Of No Objection (LONO) commercial trials on bioMSAR™ with MSC Shipmanagement (MSC) are expected to be concluded in December 2023. The agreements cover trial fuel production, supply, and logistics. Provided these and the relevant permits are concluded in time, Quadrise equipment will be installed and commissioned at the bunker terminal in Q1 2024, with the intention to commence the trials in  early Q2 2024, in accordance with the latest vessel schedule shared by MSC recently.

US low carbon fuels: Quadrise understands that Valkor Technologies LLC (Valkor) expects to conclude drilling permits and project financing relating to their primary project site in Utah by the end of the calendar year 2023. Provided a minimum of US$15 million is successfully raised by Valkor, under the terms of the Site License and Supply Agreement signed in June 2023, Valkor will pay Quadrise an initial US$1.0 million licence fee and a further US$0.5 million upon delivery of an MSAR® Manufacturing Unit to the project site in Utah.

bioMSAR™ development: As described in the overview above, during FY23 and since the period end, work has been progressing at the QRF in conjunction with commercial partners Vertoro BV and BTG Bioliquids BV, as well as with other prospective partners, to develop bioMSAR™ formulations made using  biomass-derived sugars. These are a lower cost and more globally abundant future alternative to glycerine and would enable a lower cost, lower carbon biofuel alternative to be produced which could then be marketed at scale to the marine and industrial sectors. Discussions have been progressing with other stakeholders in this renewable sector.

In November 2023, diesel engine testing was completed at Aquafuel on blends of bioMSAR™ containing 20% to 40% of Vertoro’s crude sugar oil (CSO™). The testing demonstrated improved engine efficiency and lower Nitrogen oxide (“NOx”) and particulate emissions upon combustion when compared to conventional diesel. Quadrise and Vertoro are now discussing the next steps toward commercialisation of the CSO™ bioMSAR™ blends. Aquafuel tests were also completed using blends of marine B30 biofuels containing FAME in MSAR® and bioMSAR™ to assess engine efficiency and emissions improvements, both of which were positive and a further step towards bioMSAR™ Zero.

Jason Miles, Chief Executive Officer of QED, said: “During 2023, we have continued to make progress with each of our key projects as well as with our work to supply bioMSAR™ at commercial scale and develop lower carbon biofuel alternatives using biomass derived sugars. We were particularly pleased to note the first commercial scale demonstration of bioMSAR in Morocco, where the client’s industrial unit was successfully operated at varying loads of up to 100%, equivalent to the energy consumption of a medium-sized container ship.

The progress made in Morocco is vitally important to the Company as we look to progress to commercial supply there and to commence marine trials on board the MSC Leandra in H1 2024. Preparations for the MSC trials are now underway, with agreements expected to be signed by year-end. In addition, the Company expects to deliver commercial revenues from Valkor in the near future upon successful closure of Valkor’s project financing.

The progress at QRF and Aquafuel with commercial partners to develop and trial bioMSAR™ formulations using cheaper and globally abundant biomass derived sugars provides a clear pointer to the future for the Company, since a lower carbon biofuel alternative will be demanded by the marine and industrial sectors.

To prepare for the expected growth of MSAR® and bioMSAR™ sales, a structured process is now underway to seek commercial partners that would allow the Company to be able to quickly scale up once the key project milestones have been met and we look forward to updating shareholders on this exercise in due course.”

Related: Quadrise, Vertoro to explore use of Vertero’s advanced crude sugar oil in bioMSAR™ fuel
Related: Quadrise, MSC Shipmanagement to trial low-carbon bunker fuels on commercial containerships
Related: Quadrise sign agreement with renewable biofuels specialist BTG Bioliquids
Related: Quadrise teams up with Valkor to commercialise MSAR® and bioMSAR™ technology in CDA

Photo credit: CHUTTERSNAP from Unsplash
Published: 28 November, 2023

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Alternative Fuels

Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

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Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) and South Korean shipbuilder Hanwha Ocean on Wednesday (2 September) signed a shipbuilding contract for six 13,000 TEU class LNG dual-fuel container vessels. 

The contract was signed by Dr. Chuck Tsai, Chairman of Yang Ming, and Mr. Charles Kim, CEO of Hanwha Ocean. The vessels are scheduled for delivery between 2028 and 2029. 

They will complement Yang Ming’s existing fleet of 10,000+ TEU vessels and serve as key vessels on East-West services, with deployment flexibility across trade lanes connecting Asia with the East and West Coasts of North America, South America, and the Mediterranean. 

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

“As Yang Ming transitions toward net-zero emissions, LNG provides a relatively mature and economically viable alternative fuel solution, capable of reducing greenhouse gas emissions by approximately 20%,” the company said. 

“At the same time, ammonia can serve as a carbon-free fuel by utilising converted LNG storage facilities, while offering relatively lower conversion costs and comparatively well-developed supply chains and infrastructure. The Ammonia Fuel Ready design will therefore provide Yang Ming with greater flexibility in responding to increasingly stringent international regulations on greenhouse gas emissions.”

In addition, the vessels will be equipped with Type B LNG fuel tanks with a design pressure of 1.0 bar to enhance the safety and efficiency of LNG operations, together with a range of energy-saving technologies, including Wind Shields, Rudder Bulbs, Pre-Swirl Stators, and Shore Power Systems. Smart ship technologies and cybersecurity protection features will also be incorporated to enhance operational efficiency, safety, and reliability while effectively reducing fuel consumption and greenhouse gas emissions.

Deliveries under Yang Ming’s next-generation fleet optimization plan commenced earlier this year. By 2030, a total of 24 new vessels are expected to enter service. 

This includes 18 LNG dual-fuel vessels—comprising five 15,500 TEU, seven 16,000 TEU, and the six 13,000 TEU vessels under this contract—alongside six 8,000 TEU methanol dual-fuel-ready ships. 

 

Photo credit: Yang Ming Marine Transport
Published: 4 September, 2026

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Both secured AiP for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) on Thursday (3 September) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Announced at SMM 2026, the concept addresses one of the biggest investment challenges facing shipping today: the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve.

While LNG is already a mature fuel pathway, methanol and ammonia remain at an earlier stage of development, with questions around global fuel availability, infrastructure development, economics and long-term adoption.

The 114,000 DWT tanker concept has been designed as a product and crude oil carrier that can accommodate future conversion to LNG, methanol or ammonia as technologies, regulations and fuel supply chains mature. By incorporating conversion readiness at the design stage, the concept aims to reduce future retrofit complexity and provide owners with greater confidence when planning long-term fleet investments.

The design concept was reviewed against LR’s July 2026 class rules and regulations, including requirements relating to ships using gases and other low-flashpoint fuels, alongside relevant IACS Common Structural Rules for oil tankers. Final classification and statutory approval remain subject to full compliance with all applicable rules and regulations.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd’s Register, said: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead. Alternative fuel solutions each offer potential pathways to compliance, but fuel infrastructure, regulation and economics continue to evolve at different speeds around the world.

“Designs that preserve flexibility will be critical in helping owners manage risk while preparing for multiple future scenarios.”

Si Nan, Marine & Offshore Marketing Department Vice Director, MARIC, said: “As the industry explores different decarbonisation pathways, shipowners need vessel designs that can adapt alongside technological and regulatory developments. This concept was developed specifically to provide greater fuel flexibility and long-term resilience, allowing owners to respond to changing market requirements without being locked into a single fuel strategy.

“Receiving Approval in Principle from Lloyd’s Register is an important milestone that validates the design concept and supports its future development.”

 

Photo credit: Lloyd’s Register
Published: 4 September, 2026

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Alternative Fuels

DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

LNG-fuelled vessels accounted for the vast majority of August activity while the strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year.

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DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

Latest data from classification society DNV’s Alternative Fuels Insight (AFI) platform alternative-fuelled vessel ordering was strong in August, with 52 new vessels added to the platform.

This is the highest monthly total since October 2024 and follows another active month in July, when 47 vessels were added to the database.

LNG-fuelled vessels accounted for the vast majority of August activity, with 46 orders recorded. The container segment led the way with 30 orders, while the car carrier segment contributed a further 12 LNG-fuelled vessels. In addition, four ethanol-fuelled bulk carriers and two hydrogen-powered bulk carriers were added during the month, as well as one LNG bunker vessel.

The strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year. In total, 242 alternative-fuelled vessel orders have been placed in the first eight months of 2026, representing a 27% increase compared with the same period in 2025.

LNG remains the dominant fuel choice, accounting for 63% of all alternative-fuelled vessel orders registered so far this year. Container vessels represent the largest share of these LNG orders (59%), followed by car carriers (30%).

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The past two months have been particularly strong for alternative-fuelled vessel ordering, with August recording the highest monthly total we’ve seen since October 2024. This has helped lift year-to-date orders to a level well above the same period last year.

“LNG remains the leading fuel choice, driven largely by activity in the container and car carrier segments. These sectors have been among the earliest adopters of alternative fuels, supported by predictable liner operations and increasing demand from cargo owners to reduce emissions across supply chains. 

“For many owners, LNG offers a combination of emissions reductions, fuel availability and future flexibility while the longer-term fuel landscape continues to evolve. 

“At the same time, the latest figures include orders for ethanol- and hydrogen-fuelled vessels, highlighting that owners continue to explore a range of decarbonization pathways. Different segments are making different fuel choices, but the overall level of activity demonstrates continued investment in lower-emission shipping.”

Screenshot 2026 09 04 at 12.29.26 PM Screenshot 2026 09 04 at 12.29.36 PM

 

Photo credit: DNV
Published: 4 September, 2026

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