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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, 03 April 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Wednesday, 01 April 20
TRADERS SCRAMBLE TO SELL CHEAP CRUDE CARGOES AS GLUT GROWS - REUTERS
Oil traders across the globe are offering cargoes far in advance as rapidly vanishing demand drives key physical crude prices to multi-decade lows, ...
Wednesday, 01 April 20
MARKET INSIGHT - INTERMODAL
There is an old, allegedly Chinese, saying suggesting that living in “interesting” times usually refers to times of trouble. The latest ...
Tuesday, 31 March 20
FREIGHT MARKET: DRY BULKERS - SPOT MARKET 23-29 MARCH 2020
Capesize
The rebound in freight rates resumed this past week, with rates man-aging to post further gains by week’s end. The BCI is in negat ...
Tuesday, 31 March 20
DRY BULK: Q1 HAS BEEN THE WORST QUARTER NOTED FOR MORE THAN 3 YEARS NOW - ALLIED RESEARCH
At this point, the Covid-19 pandemic seems to be monopolizing all market (as well as all other) discussions across the world and any market insight ...
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- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- White Energy Company Limited
- Posco Energy - South Korea
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
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