AGM Date 28th November 2014. Venue TBA Get those red trousers off the scarecrow and in the wash Wooly!!
The scrubbers/fuel reformulation debate is reminiscent of the lead in petrol debate in the early '80's. Everyone agreed that removing lead was imperative since it was a proven impairment to the development intellect and behaviour in children. How best to achieve it? The solution was the phased introduction of lead free petrol, catalytic converters to capture damaging particulates and redesign of engines. Scrubbers are the marine equivalent of the catalytic converter, read MSAR2 for leaded petrol and no doubt engine design will evolve to maximise the potential of MSAR2 (and 3/4/5 no doubt). Only now 30 years after the change in motoring occurred is the next real advance being made with electric vehicles. I'd love to think that MSAR2 has similar longevity! GLA
So, steady as she goes seems appropriate; not much news on Saudi, though.
Envirnomental Trump Card
"The raised awareness of environmental concerns on SO2 and carbon particulate (black soot) emissions from marine operations both within the Emission Control Areas ("ECAs") and in the "open ocean" has been highlighted in previous Company reports. The economic implications of a compliance driven switch to distillate fuels at a premium of US$350+ per ton, and the practical supply challenges are now being openly debated. Informed commentators have come to accept that the global refining industry will not be able to supply compliance fuel without a massive investment programme. This would itself exacerbate existing problematic CO2 emissions due to the nature of the processes and plant operations involved. The use of on-board emissions scrubbing is rapidly becoming accepted as representing the most effective and practical means of compliance even among national government regulators and global marine industry institutions. This solution plays to the strengths of Quadrise Marine MSAR® fuel, presenting an opportunity for the Company to assist shipping companies with a cost effective environmental solution. Marine MSAR® fuel offers measurable, differentiated and enhanced "green performance" in terms of NOx and particulate emissions. Being priced at a discount to conventional fuel oil, the cost differential will make a material contribution to the capital charge and operating costs of the scrubbers. On information available to date it has become clear that the combination of Marine MSAR ® fuel and novel scrubber technologies will offer the lowest cost compliance option in 'open ocean' operations which represent over 80% of the marine fuel oil market. The technical feasibility of compliance with ECA standards through the use of scrubbers without switching to very low sulphur distillate fuels at a premium of US$350+ per ton is currently being tested. Reported results by some leading cruise line operators suggest this may prove compliant and acceptable. If so it could potentially also open the ECA market to a switch from distillates to Marine MSAR ® fuels in combination with cost effective emissions scrubbing. The commercial roll-out of Marine MSAR ® fuels is now clearly in sight, and the programme is underway. The momentum is expected to grow steadily, focussed on NWE in 2015 and other global bunker fuel supply hubs from 2016 onwards. The current market at circa 200 million tons p.a. is very large, and is again expected to grow steadily off this base - now that the impact of slow steaming has run its course. Quadrise is very well positioned as the only company able to offer a low cost 'oil in water' compliant emulsion fuel as a fully finished product with both cost and environmental advantages to vessel operators using the latest hi-tech two stroke propulsion engines supplied by the leading manufacturers." :-)
A lot to take in.
Most will be still absorbing the RNS' contents. The MM's being lazy will wait for any media comment before they move on this. This sticks out though.. "Unsolicited approaches concerning projects in areas such as Russia, the Caribbean, Indonesia and South and East Africa continue unabated. Where they have merit, and on a selective basis, the Company may confirm conditional interest." i.e " Thank you for your interest in our game changing product, you are currently in a queue"! UNABATED ..Sustaining an original intensity or maintaining full force with no decrease: Amazing testimony to the potential of this product and a massive de-risker IMO
The shares go down so that when the really good news comes the MM's can make sheds full of money. We will get ours as well its in the bag so to speak. Don't loose all your money in Las Vegas, save some for Christmas day cards.
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