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UK-based Quadrise Fuels International Plc. (QFI) has signed an agreement with Danish shipping group Maersk to jointly develop a marine version of QFI's MSAR emulsion fuel.

The development programme will aim to capitalise on QFI's skills in emulsion fuel application and use in large diesel engines.

QFI currently produces an emulsion fuel, MSAR®; (Multiphase Superfine Atomised Residue), which is a direct substitute for conventional heavy fuel oil (HFO) for use in diesel engines, power generation and steam raising.

The technology utilises the least valuable elements of the oil barrel resulting in a fuel that is said to be lower in cost than HFO and competitive with natural gas.

Maersk is the largest single purchaser of bunker fuel in the world and the largest container shipping organisation.

The company will contribute its vast shipping industry knowledge and provide technical expertise relating to fuels, exhaust gas emissions, machinery systems and technical ship management.

Commenting on the agreement with Maersk, CEO Bill Howe said, 'This co-operative development is a very exciting opportunity for QFI. The diesel engine application of MSAR represents a market sector with limited inter-fuels competition.

"Bunker fuel, driven by expansion in international trade, is a long-term growth market and comprises 150 million tons per annum, approximately 30% of the global heavy fuel oil market."

Howe added, 'Bunker fuel represents a high proportion of shipping industry operating costs and there is great potential for MSAR if the technology can be successfully adapted to the marine application.'