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Wednesday, 19 February 20
AS OCEAN TEMPERATURES RISE, SHIPOWNERS LOOK FOR WAYS TO COPE - WARTSILA
 The world is heating up, and its oceans are no exception. According to the International Panel on Climate Change (IPCC), the oceans absorb the majority of the heat created by greenhouse gas emissions, causing their temperature to rise. During this summer, the hottest on record in the Northern Hemisphere, unusually high temperatures were seen on coasts and seas around the world.
The relationship between warming oceans and the shipping industry is complex and interdependent. Shipping accounts for 3% of world emissions – the same as Germany – and, as such, is a large contributor to global temperature rise. This, in turn, will increasingly affect the infrastructure the shipping industry relies upon in the future.
Melting ice, rising waters
One of the most obvious impacts of rising ocean temperatures has been felt in the Arctic. The Arctic sea ice is declining at the fastest rate in a millennium, and its retreat opens up the possibility of shipping via the Northern Sea Route (NSR) along the Russian Arctic coast. Use of the NSR is only just the beginning, and the need for icebreakers and specialised ships and crews means that the route is unlikely to become popular any time soon.
Jean-Paul Rodrique, an expert on transport geography at Hofstra University, notes that even if the NSR is used more frequently, it will chiefly increase access to Arctic ports and some of the resources contained within the Arctic, rather than reshaping global shipping routes overall. According to Rodrique, the result of the warming Arctic will most likely be increased use of “some ports in the Arctic on a regular basis.” This will mean that those ports can be involved in accessing resources in the Arctic interior, which are difficult to reach.
Warmer ocean temperatures and diminishing amounts of ice do have another consequence, however: rising sea levels. In September, the IPCC released a special report on how the ocean and cryosphere –the frozen parts of the planet – are being affected by climate change. It found that melting ice in the Arctic and Antarctic and from glaciers has already significantly increased the amount of water in the oceans. The rate at which water is released is accelerating and is likely to lead to a sea level rise of between 60 and 110cm by 2100.
Such a rise could, eventually, jeopardise cities and ports at sea level. While Rodrique notes that the effect of rising sea levels currently is only ‘marginal’, in the future, higher seas could have an impact.
Climate change has also altered the behaviour of the Gulf Stream, the system of currents that moves warm water from the tropics along the east coast of the United States and across the Atlantic to Europe. A weakening Gulf Stream would mean that sea levels rise unevenly, with particular impact on places such as Florida. The increased prevalence of extreme weather events such as hurricanes also would make sailing in certain regions more dangerous, an effect that is already being felt in the cruise industry in areas like the Caribbean.
The need for new port infrastructure
Some of the ports most likely to be affected are already trying to grapple with the problem. River ports, such as Rotterdam in the Netherlands, are particularly at risk from rising sea levels. Rotterdam is the largest port in Europe and is crucial for the continent’s trade. It also sits outside the city’s flood defence system and is open to the North Sea. Because of these factors, planning for climate change has long been a priority for the port authority. Many of the port’s facilities are already elevated, but studies are being conducted on the measures that must be taken to mitigate against climate change in the future, including strengthening flood and storm defences. The port is also encouraging ships to invest in renewable power, to reduce any additional negative effects on the environment. The whole city hopes to be climate proof by 2025.
Other ports are beginning to catch on. The seas around the coast of Virginia have risen just under half a metre in the last century, one of the fastest rates of sea level rise in the United States (relative to the speed at which land is sinking). They could rise another 35 cm by 2050, and by over a metre by 2100, according to the government’s National Climate Assessment. The Port of Virginia in Norfolk, the fifth-largest port for shipping containers in the U.S., has begun preparing for the future. Last year, as part of an overall renovation, the port began moving its electric power stations off the ground and its data servers further inshore to keep them out of the path of rising waters.
Ports elsewhere are being encouraged to do more. In December last year, the United Nations Conference on Trade and Development (UNCTAD) warned ports that if they are not ready to cope with the projected impacts of climate change, they could harm the trade and sustainable development goals of all nations. “The impacts may be severe, and, given what is at stake, we have no time to lose,” said Regina Asariotis, UNCTAD’s head of policy and legislation at the time of the announcement.
Source: Wartsila
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
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