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Monday, 14 July 14
THE END OF THE ERA OF HEAVY FUEL OIL IN MARITIME SHIPPING - ICCT
 KNOWLEDGE TO ELEVATE
Since the 1960s, heavy fuel oil (HFO) has been the king of marine fuels. Viscous, dirty, yet inexpensive and widely available, HFO propelled a long period of robust growth in international shipping, which carries over 90% of intercontinental trade by volume each year. For many, it is the lifeblood of the maritime shipping industry.
But HFO’s low price does not reflect its impacts on the environment and human health. The sulfur content of HFO can be up to 35,000 parts per million. It is the reason that maritime shipping accounts for 8% of global emissions of sulfur dioxide (SO2), making the industry an important source for acid rain as well as respiratory diseases. In some populous port cities, such as Hong Kong, shipping is the largest single source of SO2 emissions as well as emissions of particulate matter (PM), which are directly tied to the sulfur content of fuel. By one estimate, PM emissions from maritime shipping led to 87,000 premature deaths worldwide in 2012.
The International Maritime Organization (IMO), the governing body of international shipping, has made a decisive effort to diversify the industry away from HFO into cleaner fuels with less harmful effects on the environment and human health. Effective in 2015, ships operated within the Emission Control Areas (ECAs) covering the Economic Exclusive Zone of North America, the Baltic Sea, the North Sea, and the English Channel will begin to use Marine Gas Oil (MGO) with allowable sulfur content up to 1,000 ppm. Starting from 2020, ships sailing outside ECAs will switch to Marine Diesel Oil (MDO) with permitted sulfur content up to 5,000 ppm.*
That tectonic shift also creates openings for a variety of new fuels. Liquefied nature gas (LNG), newly abundant and relatively affordable, is attracting the attention of many shipping companies. Although the lack of infrastructure and the uncertainty of future prices have slowed the “dash to gas,” many expect LNG to establish itself as one of major alternatives to HFO in the future. Lloyds Registry, a shipping classification society, expects LNG to take 11% of the market share in 2030.
Meanwhile, Stena Teknik, a Swedish company, is testing methanol, another natural gas product, but one that requires less storage space in a ship and is relatively easier to handle. While natural gas-based fuels may sometimes offer questionable climate benefits, due to methane leakage concerns, the IMO’s low-sulfur regulation may create needed openings for other zero-sulfur, low-carbon marine fuels. Tests using fuel cells on the Viking Lady, an offshore supply ship, demonstrated promising results.
Wind kites and solar panels have already been installed on numerous ships to supplement marine diesel engines. Even HFO will not completely disappear from the menu of marine fuels. Combined with scrubbers that capture more than 99% of the sulfur from the exhaust gas, HFO will continue to play an important role. Lloyds Registry reckons that HFO will represent about 40% of fuel use by 2030.
The shift to cleaner but pricier low-sulfur fuels is likely to heighten interest in the “fifth fuel”: energy efficiency. Historically, the maritime shipping industry, where energy often accounts for over half of operating costs, has responded to escalating fuel prices with innovative energy-saving strategies. To cite a recent example: in 2008, as fuel prices went through the roof, shipping lines cut their operating speeds by as much as 50%, helping many companies stay afloat amid one of the worst downturns in history. In an analysis of satellite data on ship operations, we’ve estimated that the industry can further slash 100 million ton of fuel use by 2030 through wider implementation of energy-saving measures that were adopted by industry leaders in 2011.
This is in addition to savings of 90 million tons of fuel because of the Energy Efficiency Design Index (EEDI), a mandatory program that will require new ships to achieve certain efficiency targets beginning in 2015.
The continued diversification of marine fuels and improvements in energy efficiency have important implications. First and foremost, they may alleviate concerns about the availability of low-sulfur fuels. Figure 1 illustrates one possible scenario, using our forecast on future marine fuel consumption and energy efficiency improvements as well as Lloyds Registry’s estimate of market shares for HFO and LNG. The efficiency improvement of the legacy fleet is the greatest force driving down the need for low-sulfur fuels, equivalent to adding about 110 “negatons” of fuel, or almost 24% of projected demand. HFO combined with scrubbers, EEDI, and distillates (MGO plus MDO) are almost neck and neck, each representing about 20% of fuel use in the chart. LNG is coming of age, with its share doubling between 2020 and 2030. Other fuels, such as renewables, fuel cells, and biofuels, are expected to hold only small market shares in 2030.
Second, the new fuels are on a collision course with IMO safety regulations concerning flashpoint, the temperature at which a fuel can vaporize to form an ignitable mixture in air.
The IMO currently requires marine fuels to have a minimum flashpoint of 60°C. But low-sulfur fuels have a lower flashpoint (50° to 55°C), meaning that they are “off-spec” and cannot be used under the IMO rule. The flashpoint requirement, which went into effect in 1976, was meant to provide a large margin of error to ensure the temperature of the engine room (normally below 45°C) does not exceed the flashpoint in any circumstance. But according to industry heavyweights such as Maersk and BIMCO, modern technologies such as advanced ventilation systems provide an adequate safety margin, and they argue that keeping the flashpoint requirement will cause the industry to miss the opportunity represented by the increased availability of low-sulfur, low-flashpoint fuels. Industry and member states such as the U.S. are urging the IMO to accelerate its consideration of an amendment to the flashpoint requirement.
By: Haifeng Wang / The International Council of Clean Transportation
*Implementation of the requirement is subject to a review of fuel availability to be completed by 2016.
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Thursday, 10 July 14
SGX EXPANDS ACROSS THE BULKS WITH NEW COAL PRODUCTS
COALspot.com: Singapore Exchange (SGX) is expanding its bulk commodity derivatives offering by launching new coking and thermal coal products on 4 ...
Thursday, 10 July 14
HANDY: SMALL INCREASE; PANAMAX: POSITIVE TONE; CAPESIZE: PAPER VALUES REMAIN WEEK
Handy
It is a general increase in activity in both hemispheres whereas rates have just experienced a small increase. In the Feast we see stable a ...
Wednesday, 09 July 14
SHIP INVESTMENTS ARE TRENDING LOWER
Most ship owners are deeming current ship prices on the high side, refraining from making serious commitments in new acquisitions or newbuilding or ...
Wednesday, 09 July 14
INDIAN GOVERNMENT ADVISED POWER UTILITIES TO INCREASE COAL IMPORTS
COALspot.com: The government of India has advised power utilities to increase coal imports to meet fuel shortages and those that have fuel supply p ...
Wednesday, 09 July 14
PANAMAX MARKET FINALLY CORRECTING UPWARDS; AVERAGE TC MORE THAN DOUBLING WEEK ON WEEK - INTERMODAL
The Dry Bulk market has closed off on Friday on a more positive note, with most segments noting weekly gains and the Panamax market finally correct ...
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Showing 3611 to 3615 news of total 6871 |
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- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- White Energy Company Limited
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
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