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JM said QFI are focussing on Amsterdam as the Marine LONO supply location as it has ideal conventional and biofuel bunkering infrastructure, refineries for conventional resid, plus proper tax recognition for blended biofuels such as bioMSAR.
Not to say that was set in stone or other locations like Cepsa's San Roque are not on the cards, but just putting that out there as the last bit of advice that was offered.
It would be great to tie multiple supply locations up, but I'm sure we'd take any decent arrangement at the moment given the length of time just getting the trials supply agreement is taking.
Looking at the Utah DOGM data explorer, it does not look like the permits have yet been granted by the department for the trial wells, so I guess that's what is holding everything up.
No, "mate". You are spamming the board because you're trying to drown out the normal posts with ramparoni so that casual passers-by who are looking at "top climbers" list only see your rubbish, not realising you are just trading and not a LTH.
Can you please stop ramping? I can see from your post history that you hop onto all kinds of shares to ramp and trade them.
We really don't need that here, thanks.
History suggests taking the Utah timelines with plenty of salt.
I think it's impossible to guess at the moment, Wazaa. Any numbers would almost be randomly generated:
1) We don't know what the contracted volumes will be (vaguely: a couple of MMUs with initial use-cases rolled out over time).
2) We don't know the refinery and type of integration that the fuel will come from, which will definitely affect QFI's margin (i.e. if it's tolling they will get a much better margin).
3) Fuel pricing and spreads have been very volatile.
4) We've not signed any commercial deals before, so the theoretical split might be very different to the real split, especially for our first large-scale commercial client.
That said, a much higher SP than now and it would unlock much better financing options.
So, I greatly look forward to this trial finally being executed and entering into commercial discussions. Whether that commercial deal closes before we need to raise new money is questionable to me, but let's see what unfolds.
Likeliest fuelling location has been mentioned as Rotterdam. So post-drydock, she'd likely be put on a route that takes her through to Netherlands, where — assuming they can finally get their supply deal sorted — the trial can be kicked off in earnest.
I think you're referring to 'API Poly-GCL' for the Chinese one — and indeed, that one appears to have been a dead-end.
Tuckman — agreed BoB could be a way of getting things going, but only if MSC and Wartsila will accept emulsified HFO as a proxy for MSAR derived from resid.
Funnily enough, I recall that the idea of BoB was brought up by shareholders donkeys years ago and dismissed out of hand (as per usual!). NIH :o).
Hoping we can get some positive news soon and the breakthrough needed.
I honestly don't get the impression that MSC are the holdup. It seems to be the supply side. I noticed the latest update emphasised that it's also for commercial supply post-trials; that makes me wonder whether the suppliers are looking to tie up a long-term relationship so that they are guaranteed a significant benefit for taking the risk of participating in a trials.
I'm sure some of that is influenced by Maersk's embarrassing conduct with Cepsa during the Seago Istanbul (partial) LONO; it's a small world and I'm sure they will be well aware of what happened and want to avoid a repeat.
Looks like Leandra is heading off towards the long African loop shortly; last Indian stop is South Gujarat, then over to Port Louis in Mauritius.
Dai, small point — the Helium One RNS you are referring to is an RNS-R (RNS Reach) which is a non-regulatory service for marketing, etc.
"This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange"
I think they should make the distinction a bit clearer at the top of those, as it frequently confuses people.
QFI were unclear as to whether they would update the market when the fuel was released, or whether they are maintaining the "no running commentary" policy and we will have to wait until the trials are done.
Personally, I think the policy is unhelpful in current circumstances. An RNS when the fuel is finally unblocked (or not) would be entirely appropriate given it's the major blocker on our progress.
In my experience it updates immediately, but only shows 1 or 2 ports ahead.
As the container sector has cooled down rapidly in the last couple of months there have been many blank sailings (skipping ports), so I wouldn't expect it to be cast in stone.
Anyone can look at MSC's official schedule at: https://www.msc.com/en/search-a-schedule click on "VESSEL" tab and type "MSC LEANDRA".
Yes, LSE.co.uk just uses dumb substring matching for catching problematic words, which causes all kinds of problems with edge cases. It's a sufficiently well-known issue that it has a special/amusing name — https://bit.ly/3wIHXnK
Hi All.
bioMSAR references data page has been updated with some interesting new data — e.g. 13% higher efficiency that diesel achieved when advancing timings modestly.
https://www.quadrisefuels.com/biomsar/references/
Pretty much all AIM audits seem to be pretty perfunctory and based upon what the management assert with modest validation/verification (so much of it is subjective when it comes to early-stage companies).
For every company's reports you see enormous auditors' disclaimers essentially saying that (paraphrasing) "everything we assess is based upon management's claims and we have no ultimate responsibility for anything".
I think they would capture only the most blatant situations, which has some value.
Anyway, what can you do.
This isn't the RNS we were looking for :-).
I would guess it's some conflict of interest issue.
I expect QFI will have to announce why shortly (close of biz today, perhaps?).
Yeah, there's also satellite AIS in a lot of larger commercial vessels (the vessel pings a satellite like Iridium), but you need to pay a charge to a provider to get the data (you can do that on marinetraffic.com etc). Benefit is that you can get the vessel location 24/7.
The usual ship tracking websites I use for her coastal AIS haven't picked up her current location yet, so I was assuming you'd signed up for a more advanced service.
Will try a few other sources.