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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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Sunday, 20 April 14
FREIGHT RATES END WEEK ON WEAK NOTE - VISTAAR
Wish you all Happy Easter.
The freight market continued to its downwards as BDI was fell 7.187 percent to 930 points week on week.
The ...
Friday, 18 April 14
US WEEKLY COAL PRODUCTION DECLINED BY 1% TO 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 17 April 14
DRY BULK MARKET ON RETREAT MODE, WHILE NEWBUILDING ORDERING ACTIVITY STALLS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating this week, a pattern which emerged since late March. Yesterday the BDI (Baltic Dry Index) ended yet a ...
Wednesday, 16 April 14
INDONESIA'S FEBRUARY 2014 COAL EXPORT VOLUME FELL 2.41%
COALspot.com: Indonesia, the world 4th largest coal producer and the global largest multi grade coal exporter shipped around $1.77* billio ...
Wednesday, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the m ...
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- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- The University of Queensland
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Medco Energi Mining Internasional
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