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Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercialization of an ammonia floating storage and regasification barge (A-FSRB). Specifically, the parties will work on the R&D of the world’s first barge* equipped with a floating storage and regasification facility for ammonia.
Background
Since ammonia does not emit carbon dioxide (CO2) when combusted, it is expected to be a next-generation fuel that contributes to global warming countermeasures. In Japan, technological development is underway for ammonia fuel mixed combustion power generation at coal-fired power plants as an innovative next-generation thermal power generation technology that contributes to the reduction of CO2 emissions. On the other hand, when using ammonia in existing thermal power plants, there are issues such as the problem of securing land for new onshore facilities including storage tanks and regasification facilities, and the large initial investment cost.
An A-FSRB is an offshore floating facility that can receive and store ammonia that has been transported via ship as a liquid, warm and regasify ammonia according to demand, and then send it to a pipeline onshore. An A-FSRB offers the advantages of shorter construction time and lower costs in comparison to construction of onshore storage tanks and regasification plants. In fact, the A-FSRB is expected to speed up the adoption of ammonia fuel and contribute to its wider use as a lower-environmental-impact next-generation fuel.
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercialization of an ammonia floating storage and regasification barge (A-FSRB). Specifically, the parties will work on the R&D of the world’s first barge* equipped with a floating storage and regasification facility for ammonia.
Background
Since ammonia does not emit carbon dioxide (CO2) when combusted, it is expected to be a next-generation fuel that contributes to global warming countermeasures. In Japan, technological development is underway for ammonia fuel mixed combustion power generation at coal-fired power plants as an innovative next-generation thermal power generation technology that contributes to the reduction of CO2 emissions. On the other hand, when using ammonia in existing thermal power plants, there are issues such as the problem of securing land for new onshore facilities including storage tanks and regasification facilities, and the large initial investment cost.
An A-FSRB is an offshore floating facility that can receive and store ammonia that has been transported via ship as a liquid, warm and regasify ammonia according to demand, and then send it to a pipeline onshore. An A-FSRB offers the advantages of shorter construction time and lower costs in comparison to construction of onshore storage tanks and regasification plants. In fact, the A-FSRB is expected to speed up the adoption of ammonia fuel and contribute to its wider use as a lower-environmental-impact next-generation fuel.
Future Outlook
The parties will promote R&D with the aim of becoming a solution for introducing ammonia fuel mixed combustion to coal-fired power plants that domestic electric power companies are currently working on.
Source: Nippon Yusen Kaisha
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Tuesday, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
Sunday, 21 August 22
COAL-RICH POLAND FACES WINTER OF ENERGY DISCONTENT - DW
Poland uses 10 million tons of coal a year to heat households — a whopping 87% of all coal consumed in EU homes in 2019, according to the War ...
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