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Well I gave the GFG the benefit of the doubt previously and had expected they would turn around this wider debacle but it seems worse than I thought, the recent announcements on the fraudulent claims and the SFO investigation is serious I think, the ft did some of their own investigation link here:- https://www.youtube.com/watch?v=OhkFbgxQuXA
If something looks like a rat smell like a rat and walks like a rat then one must assume; its a rat. initially I thought it was a stitch up on the GFG but increasingly it looks like they are the ones sticking it to folks (Lex Luthor and Superdave stuffed turkeys) . I'm hoping now the receivers have pulled the plug on simec uk energy holdings limited I hope this will be a new beginning for SAE without the Guptas shenanigans and associated baggage. Lets hope the impending reset minus GFG looks after the existing shareholders.
fact Henry wrote:- "Usk needs planning consent, which given this has been called in and similar refusals and dislike of coal plant conversions"
Just to take issue with this statement of yours Henry. Drax power have a business model using alternative to coal fuels in their ex coal UK power plants so if they can do it SAE can. The planning permission is not for conversion of the plant but for building in of the infrastructure required to support the importation and storage of the new proposed cleaner fuels, these are the facts as far as I am aware, happy to be corrected though.
Good comms from the CEO, he has his finger on the pulse of investors and the wider interested parties by the looks of it. So many of these AIM companies operate in stealth mode treating investors like mushrooms but not here. Lots going on behind the scenes and the importance of this energy provider and prospects here are understated and undervalued. With GOP 26 around the corner it can only bode well for this and similar energy tech companies.
Thanks for the link Tribal but did you read it through? Note this is the last amount of shares issued to Bergen, lets hope they don't show there face again.
Serious investors could take advantage and pick up those dumped shares at a premium to earlier trends............
See RNS earlier in the week. Bergen off loading perhaps. Long termers here know they are or have been a necessary evil but let them open up the tap, dump and be gone.
Bump in the road but keep the faith. However some positive news asap from Quadrise would be an antidote/counter to the Bergen sell off IMHO.
Coincidentally the SAE SP has lifted off bottom........perhaps.......
Not directly related here but posted for info and good to see this IMHO:-
GFG, which employs about 35,000 people in metals companies stretching from Australia to the UK, said it could take up to four weeks for the deal to complete. It is understood that the financing, first reported by the Australian Financial Review, has been agreed with San Francisco-based White Oak Global Advisors.
https://www.theguardian.com/business/2021/may/05/sanjeev-guptas-gfg-secures-financing-for-australian-whyalla-steelworks
Carbon Capture has been stuck in the doldrums of good idea but who's going to pay for it. The folks in the Humber like Velocys, drax, vitol and phillips seem poised to expand once the money is pledged to finally build in CC. I think the Humber once it gets going will be the template for others to follow. Slowly but surely.......perhaps. What is apparent is Government support and mindset seems to be coming to the party:-
https://www.business-live.co.uk/economic-development/34m-boost-humbers-grand-carbon-20187475
"Harnessing tidal energy will help to combat climate change, as well as strengthen the UK’s post-pandemic economy by creating a huge number of new jobs. According to the government’s economic watchdog, the Office for Budget Responsibility, UK unemployment is likely to reach 2.6 million by the middle of this year. Renewable energy alone can create up to 150 000 new long-term jobs in the UK, which will help to plug the gap."
https://www.energyglobal.com/special-reports/19042021/the-green-gold-rush-tidal-power/
Coastal towns are some of those worst-affected by the pandemic. Once dependent on traditional industries, they have been facing longer-term problems due to a decline in fishing, shipbuilding and manufacturing industries.
The construction and operation of a tidal power plant in these areas could help to create real-value work, offer exciting new job prospects to a younger generation of energy professionals and engineers, and also provide a shot in the arm to the local economy.
"The volcano is also emitting an assortment of gases. Most notable is the emission of sulphur dioxide which is being tracked by Earth observing satellites. Sulfur dioxide (SO2), a colorless, bad-smelling, toxic gas that is part of a larger group of chemicals referred to as sulfur oxides (SOx). These gases, especially SO2, are usually emitted by the burning of fossil fuels, but volcanoes are productive emitters of sulphur dioxide too.
Satellite imagery shows a very large volume of gas escaping the volcano into the atmosphere. When mixed with precipitation, acid can rain down, bringing with it its own hazards to living things and objects at the surface."
https://weatherboy.com/heavy-ash-rocks-toxic-gas-exploding-out-of-erupting-caribbean-volcano-la-soufriere-on-st-vincent/
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The ongoing eruption and emittance of SO2 highlights the inadequacies of IMO, they went after an easy target with Sulphur which lets face it is naturally emitted by our planet. The result is that the Frankenstein low Sulphur fuel creates a lot more CO2 by way of refining and processing to remove the Sulphur, the fuel still emitts high levels of NOX & PM's. IMO did this IMHO to be seen to be doing something about climate change but gave us a red herring. Perhaps in hindsight they might have gone after other emissions such as NOX and particulate matter and Carbon emissions in a slow and sustained manner instead of inadequate bungling which has left us in the current situation of having to absorb the low Sulphur fuel implications until and assuming they get there act together.
Meantime lets hope that Volcano shuts down soonest and give the folks in the Caribbean rest bite from the immediate suffering.
"The recent spate of announcements by shippers to take the scrubber route could be a reflection of vessel owners currently not necessarily clear about what the best option is among fuel choices while attempting to reduce carbon footprint going forward, trade sources said.
It could also be an indication that some shipowners out there are not necessarily convinced that LNG is the ultimate answer, with many referring to it as a good transition fuel.
"Yes, if you're concerned that [LNG] is producing as much [GHG] emission as any of the other existing marine fossil fuels," an industry source said.
While it was apparently still early days for shipowners to make massive investment bets on which alternative cleaner fuel choice to make, the safest option for now also seemed to be the lowest cost option."
https://www.spglobal.com/platts/en/market-insights/latest-news/natural-gas/040921-scrubber-uptake-may-gain-pace-on-shippers-move-to-decarbonize
Glad to see yesterdays RNS but could have come sooner to steady the ship but perhaps the board wanted to see where the dust settled before stating the current state of affairs. The content of the RNS and the thought put into it was concise and well presented the facts. The drop in the S.P following the GFG situation was an over reaction IMHO and good to see SAE state the separation between themselves and GFG-Guptha-Liberty & Greensill. SAE have a lot going on and has a promising future. This Company and its technology; I'm confident will be a major provider of clean energy solutions now and in the not to distant future. All good. GLA.
PM's got his finger on the pulse. A step change from the old guard and perhaps a positive in amongst the negativity of Brexit:-
"Asked if he would step in to ensure no jobs would be lost at Liberty Steel, Johnson said: “I think that British steel is a great national asset and the fact that we make steel in this country is of strategic long-term importance.”
“I’m very hopeful that we’ll get a solution,” he said. “It would be crazy if we were not to use this post-Brexit moment, to not to use the flexibility we have, to buy British steel. So that’s what we want to do.”
Johnson said the COVID-19 crisis had shown how important it was not to be excessively reliant on imports of critical items.
He said the government’s infrastructure plans including wind farms, railways, nuclear power stations would all need steel."
https://www.reuters.com/article/us-britain-greensill-liberty/liberty-steel-owner-gupta-says-he-owes-many-billions-to-greensill-idUSKBN2BO4GM
So presumably if new kit is needed to winterise the plant and as its spring going on summer in the northern hemisphere then logic would suggest another winter is required to fully prove the winterised experimental plant.......or am I missing something?
Nice to see the the RNS also mention liquidation of another Company, not exactly confidence inspiring.
False alarm:
"The owners of the 400m-long (1312ft) vessel say it ran aground sideways after being hit by strong winds."
https://www.bbc.com/news/world-middle-east-56505413
Container ship runs aground in Suez Canal causing traffic jam:-
"The 200,000-tonne vessel en route from the Red Sea to the Mediterranean ran aground at about 7:40 a.m. (05:40 GMT) on Tuesday after the ship suffered a blackout, port agents GAC said on its website."
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Should have gone to Quadrise fuels ..........perhaps.............
Container ship runs aground in Suez Canal causing traffic jam:-
"The 200,000-tonne vessel en route from the Red Sea to the Mediterranean ran aground at about 7:40 a.m. (05:40 GMT) on Tuesday after the ship suffered a blackout, port agents GAC said on its website."
https://edition.cnn.com/2021/03/24/middleeast/suez-canal-container-ship-intl-hnk/index.html
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Should have gone to Quadrise fuels.....perhaps.....
“As the bunker price spread now seems to have found a steady level slightly above USD 100 per MT, ship owners and investors are increasingly likely to order new ships with a scrubber preinstalled today, when compared to the sub-100 dollar spread of last year.”
Source: BIMCO, Peter Sand, Chief Shipping Analyst
https://www.hellenicshippingnews.com/scrubber-fitted-ships-nearly-double-as-fuel-spread-settles-at-118-per-mt/
"SCRUBBER-EQUIPPED VESSELS NEARLY DOUBLE SINCE IMO 2020"
https://www.bunkerspot.com/global/52769-global-scrubber-equipped-vessels-nearly-double-since-imo-2020
"Finnish engine maker Wartsila said carbon capture technology could be added to scrubbers to catch CO2 emissions from ships."
https://www.argusmedia.com/en/news/2196327-wartsila-says-scrubbers-could-capture-co2