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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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Friday, 04 July 14
PARAM MITRA COAL RESOURCES SECURES US$ 7.5M INVESTMENT FROM TEMBUSU PARTNERS
Param Mitra Coal Resources Pte Ltd (“PMCR”), which owns two operating coal mines in Indonesia, has secured from Singapore private equit ...
Thursday, 03 July 14
BUMI TRANSFERS 19% OF KPC STAKE VALUED AT US$ 950 MILLION TO CIC
COALspot.com: PT. Bumi Resources announces that 19% of its holdings in Kaltim Prima Coal (KPC), valued at US$ 950 million, has been transferred to ...
Thursday, 03 July 14
PANAMAX : IN THE ATLANTIC, OWNERS ARE WILLING TO FIX AT ABOUT $2.5K PER DAY - FEARNEYS
Handy
In its latest weekly report, shipbroker Fearneys noted that, this week seems to have been more of a wait and see game between owners and ch ...
Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the govern ...
Wednesday, 02 July 14
THE PANAMAX MARKET CONTINUED TO BLEED FOR ANOTHER WEEK - INTERMODAL
COALspot.com: The Dry Bulk market succumbed to mounting pressure this past week, while the Capesize market proved unable to “save the day&rdq ...
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- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- The Treasury - Australian Government
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Planning Commission, India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
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