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In order to effectively drive change, a collective ecosystem is needed all rowing in the same direction. We’ve seen this in the maritime sector recently.
Firstly, customer demand.
Cargo owners like IKEA, Amazon, Philips, Nike and other giants have formed the Zero Emission Maritime Buyers Alliance (ZEMBA), and are calling for zero carbon emissions shipping services that will enable ZEMBA members to reduce supply chain emissions. This is the first major buyer-led initiative to accelerate the transition to zero-emission maritime fuels led by shippers putting pressure on their suppliers.
Secondly, regulatory changes.
On 1 January 2024, the EU extended the coverage of its ETS (Emissions Trading System) to incorporate the maritime sector; which represents 3 to 4% of the EU’s total CO2 emissions.
This means the price of carbon will now have a bigger influence on the Maritime sector, with carbon allowances priced in the market. This now means the shift from fossil fuels to lower-carbon alternatives now create a strong economic incentive for ship owners.
Thirdly, technology & innovation.
Green steel, new propulsion technology, AI-based route planning, drag-resistant coatings for ship hulls, and low carbon fuels.
Quadrise’s synthetic fuels MSAR® (Multiphase Superfine Atomised Residue) and bioMSAR™ are both Oil-in-Water emulsion fuels with droplets so fine that they burn almost completely, like a gas, leaving virtually no particulate “black carbon” in the exhaust, making it more environmentally friendly.
MSAR® delivers up to 9% reduction in CO2 and bioMSAR™ offers over 20% reduction compared to heavy fuel oil. This is comparable with LNG use, but without the risk of methane slip, which is 21 times worse than CO2 as a greenhouse gas.
When it comes to making sustainable changes, all parts of an ecosystem need to move together: consumer demand, regulation & innovation. I’m encouraged by the action I see in the maritime sector, where companies are collaborating to move in the right direction.
'In terms of timescales for the agreements & trials, Quadrise advised that agreements would need to be finalised by the end of March in order for the trials-related activity to commence in Q2. Based on that fuel supply to the trials vessel would be in late Q2/early Q3. Quadrise stated that they were expecting contracts by the end of Q1 at the latest.'
I hope somebody like Bud d Darr is steering the ship on this and told all parties these all need to be completed by the end of March.
MSC Leandra is just leaving Portbury and on her way to Le Havre in France. Hopefully that drydocking is completed soon.
AKHM...I would expect an RNS as it is material news to Quadrise and the MSC trial.
Whiskyman you come across as an utter fool. Get back to the bar for a refill Bert.
'Also read the agm Morocco update, any reference to Q1 contracts? Not a sniff, why? Surely if, as you claim Andy and Jason believed it to be true, did they not state it in the specific update? Seems obvious they were in no position to make such a claim and therefore didn’t!'
It was stated at the AGM presentation on the slide. They don't verbally state everything that is on every slide.Good lord.
Do you think he would of said NO...good lord. These slides are timetables of projected milestones and our chairman has stated several times we think we can achieve them. So the chairman and the CEO go by them but you don't think shareholders should.Good lord.
Spot on Tobythedog.
Misrepresent information good lord.
So a slide says in Q1 'conclude commercial supply t&c's for site B.If you had asked JM do you expect to complete this in Q1 he would of said YES.
“What is very disappoiting is we were told they expected to sign the Morocco commerrcial contract in Q1 ”
Remind me of where QED said this, HF14?
Whiskyman...At the AGM JM stated we have now completed the trial and commercial supply discussions can now start. On the slide it states 'conclude commercial supply t&c's for site B' and the timeline is Q1.
> Hotfinance14: "I doubt there will be an IC after the interims now (due to the visit and q&a) so others cannot air their views and questions to the management. Hopefully i am wrong."
Dustof...I have stated I doubt the IC call will happen. This is an opinion and not a lie. I stated this as the last time there was a visit to QRF the next IC did not take place.
Totally agree 46G and I hope those present at QRF told them how frustrating this is.I doubt there will be an IC after the interims now (due to the visit and q&a) so others cannot air their views and questions to the management. Hopefully i am wrong.
It will be interesting to see when they will run out of cash.
What is very disappoiting is we were told they expected to sign the Morocco commerrcial contract in Q1 and we now have :
'It was possible there would be limited additional testing at the site – covering aspects of
continuous running on MSAR fuel. Timescales for additional (funded) trials (at two other
sites with similar & other thermal applications) were being discussed – Quadrise
emphasised that this was separate to the intended commercial agreement for the original
site and there was no dependency between them. It was possible these trials could be
provided with fuel supplied by the client or via the Antwerp arrangement for LONO.
In terms of timescales for agreements, Quadrise were currently working on a new
agreement covering planned activities needed for the first half of this year to conclude the
commercial contract by the middle of this (calendar) year. It may be signed in Morocco.'
'Was anyone here invited to that?'
The big question for me is what was the motive of the BOD for this visit. I hope it does not scupper the IC after the interims.
The interim results are due around the end of March so we will have a full update but surely there will be news on the MSC fuel agreement and Morocco by then. Well i darn hope so. Then we have the fuinding issue. As for Utah the drilling permits will be imminent as they were in August last year.
We have already been told the Moroccon client is visiting QRF.
Gribbler...JM's statement in the last proactive interview.
Maybe Potter got easter confused with leap year.
The Morocco client visit to QRF should be by the end of this week at the latest if all went to plan so we may have some news soon.
Success should be a Morocco contract signed by the end of March and the MSC trial to start in Q2. Anything beyond that is a failure. with the BOD credibility a negative figure.