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Quadrise to trial MSAR fuel with MSC fleet
StockMarketWire.com
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Heavy oil technology firm, Quadrise, has entered a Joint Development Agreement with MSC Shipmanagement Limited of Cyprus, a 100% subsidiary of MSC Mediterranean Shipping Company SA, to carry out an MSAR Operational Trial on MSC's fleet of commercial container vessels.
Initial activities under the JDA will include project initiation, definition, high-level scoping and feasibility activities of the overall trial. The Initial Activities are to be completed within three months.
Phase 1 will see the testing of MSAR fuel in a large MAN ME and/or a Wartsila/WinGD Flex 2-stroke engine, in order to obtain 'Letter Of No Objection' approvals from the respective engine manufacturers.
Should the initial phase and approvals be successful then MSC and Quadrise would seek to rollout MSAR fuel, and potentially bioMSAR, for the MSC global fleet.
In a statement, Quadrise CEO Jason Miles said: 'We believe that MSC's large modern fleet installed with electronic engines and, in some cases, exhaust gas cleaning systems (scrubbers) is well positioned to realise the economic and environmental benefits of MSAR and bioMSARTM and we look forward to realising the project and getting the trials underway in 2021.'
Prabhat Jha, chief executive of MSC Shipmanagement added: 'We are particularly interested in the potential environmental benefits of MSAR and bioMSAR, that alongside the economic benefits, reflect our approach to operating a modern MSC fleet, and fit well with our overall future fuels strategy.'
At 9:39am: (LON:QFI) Quadrise Fuels International PLC share price was 0p at 1.9p
Story provided by StockMarketWire.com
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