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My money is on MSC project progress, new regulations with start 2024 for shipping industry and institutional investors… so the finis run has started and I believe that we will achieve multiple SP in one year period…
The product is ready now, it is certified and from what I know is the only product that is cheaper as fuels used now with flexible co2 emissions control. The market is forced to do something too and institutional investors search for growth in this times.
So what can go wrong? :D
Morroco and MSC seem to be possibilities with a possible trial to be completed and results published possibly 4 to 5 weeks away? Previous rns's suggest that a commercial contract should follow obviously based on satisfactory results. MSC required further trials with initial trials positive. Potential for Morroco deal to be signed in coming months would be the biggest positive for qfi since its formation and would be enough for me to buy more. However based on current share price there is no belief with investors wanted results before further investment. Time will tell. I am hopeful.
And I'd rate the others less than 50/50 and Morocco much more.
Vince
MSC coming off will be enough!
"Like you saying there would be no RNS Fact about Msar being released from customs."
There probably shouldn't have been but for all the public concern. I really wouldn't expect a running commentary.
I did state there would be no RNS regarding the MSAR clearing customs as QFI informed us there would be no running commentary of the project. They obviously changed there minds. When the trial is complete I am sure your confidence will grow.
Yes. We can all flip flop HF14. Like you saying there would be no RNS Fact about Msar being released from customs.
Whether I'm optimistic or pessimistic is my opinion. I don't or couldn't care less if anybody agrees with me.
Vince....you seem very pessimistic and yet you stated you were crying with joy when it was announced the MSAR fuel was released from customs for our Morocco client.
It is depressing but realistic, KSA came as close as it ever was going to in 2017/18. Kuwait never has or will get off the ground, JGC only ever got mentioned at the AGM when nothing else was on the cards.
Utah is out of our hands, I thought maybe we would have had something up and running with Valkor by now. Got a feeling Ramadan is going to get in the way of Morocco and for a shipping firm keen to test fuel, its sure is dragging its heels in getting the ship into dry Dock.
That's quite a pessimistic/depressing take on things Vince but I suppose the current SP is reflecting those chances of success.
For big shippers, (like MSC), oil majors, (like Shell) and large industrial concerns, (like OCP), there is an urgent requirement to show they are serious about their ESG policies and carbon reduction strategy. Partnering with QFI, even on a limited scale initially, allows them to promote another string to their ESG bows.
I think there are a large number of projects that will never see the light of day. Mexico, KSA, Kuwait, Japan ( JGC). I'm 50/50 on Panama/ Honduras, Morocco and Utah.
Maybe wonga but there making so much money off mgo ,they dont want to upset the boat, i must admit i dont know what they going to do with all that hfo
I get your point Stumpy but big oil supplying HFO is not going to be a viable mid to long-term strategy for the marine industry. They should be keen to get involved with MSAR as it will primarily still involve HFO as part of the feedstock, Rather than a hydrogen or methane option??
As I've said before we have no chance so long as big oil and the usa see us as a threat to profits this happened in Saudi, maersk , and now the ceo of maersk is the ceo of msc i dont see why we wont be stabbed in the back by them ,morroco has been delayed by unexplained holdups and mexico is ridiculous, manjana,manjana,manjana.they need to find a country that cannot be curupted, cuba maybe or even go back to its roots Venezuela. Or maybe a small shipping company that would like to gain a competitive advantage
main problem is corruption - need a shipping container for the brown envelopes
Yes, they are a disaster area, with huge debts, disgraceful environmental standards and oil storage shortage issues, all of which could be helped by the adoption of MSAR.
There are none so blind as those who will not see.
Vince - don’t hold your breath on PEMEX, they’re a disaster area
The numbers that stick in my head are $10 or $20/ton for Quadrise. Although that may now be particularly out of date due to the spreads having changed so much.
The MSC schedule now shows that after leaving Coega SA she then goes to Port Louis and then arrives in Singapore on the 20th March. This is one day before the ticket runs out.
MSC Leandra is now docked in Coega SA. The satelitte picture shows a red image under her but that may mean nothing.
That $50/t number sounds like the uplift that is to be shared between involved parties (e.g. QFI, refiner, customer), not the profit that goes to Quadrise alone. I think this might be a mistake or poor phrasing from Shore Cap.
"could charge c.$50 per tonne for licensing its technology.”"
I've always found it difficult and confusing to keep track of RNSs from long ago. But I believe there was (official) talk of a licensing and BOO fork at some point and I can remember the last time there were numbers attached to revenue splits - are there any that are still valid? $50 a ton is coming from a (sort of) third party and explicitly for licensing. Are there any BOO opportunities currently on the books? What's the latest from the company regarding revenue projections/splits?
Quadrise Fuels International PLC (AIM:QFI, OTC:QDRSF) opportunity with MSC Shipmanagement could be worth more than double the company’s current market value, that’s according to analysts at Shore Capital.
Earlier this week the AIM-quoted company updated investors on the extensive testing of its bioMSAR fuel ahead of trials with MSC later this year, and highlighted that in separate testing with Wärtsilä Services Switzerland completing optical combustion and engine wear tests with the synthetic biofuel.
The tests were described as a necessary precursor to the commercial-scale vessel trials.
The optical combustion test of MSAR and diesel fuels confirmed bioMSAR to have similar injection and combustion properties as MSAR, Quadrise said, suggesting bioMSAR will behave similarly when used in medium and slow-speed diesel engines. Having also successfully completed extended wear tests over a 250-hour period, the next phase of assessment has been scheduled: hazard identification and operability studies.
Following these tests, commercial vessel testing will begin on the MSC Leandra.
Shore Capital analyst Tom Fraine, in a note today, said the broker remains optimistic regarding the potential scale of Quadrise’s projects.
“The company’s proprietary fuels have the ability to significantly reduce both fuel costs and emissions. bioMSAR and MSAR also make the transportation and handling of fuel easier versus conventional heavy fuel oil and no significant adaptions to equipment are required for their usage,” Fraine said.
“The opportunity with MSC could be worth more than double Quadrise’s current enterprise value in potential annual revenues if only a small percentage of the shipping company’s overall fuel demand was switched to MSAR or bioMSAR.
“MSC currently consumes close to 10m tonnes of fuel oil annually and we believe Quadrise could charge c.$50 per tonne for licensing its technology.”
I have often wondered why our ship is often docking at Coega as it is a very small port/town. If you look at the below video from 11mins MSC has a huge logistics plant at the Nelson Mandala Bay Logistics Park :
https://www.youtube.com/watch?v=Cd0PXepnG-c
Ngqura/Coega is next to Port Elizabeth and they share an anchorage AFAICT. Leandra is on the Ngqura arrivals list.
She's going over 20kt so should arrive this afternoon to the anchorage (from UTC perspective).