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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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Saturday, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
The Capesize market made some headway this past week despite being buffeted by the global pandemic storm. With the market in a constan ...
Friday, 20 March 20
VOLATILITY TO INCREASE IN TANKER MARKET FOLLOWING OIL PRICE WAR - DREWRY
Crude oil prices plunged by more than a third in the past week after OPEC+ failed to agree on production cut as demand softened in the aftermath of ...
Friday, 20 March 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 ...
Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
West Texas Interm ...
Friday, 20 March 20
84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
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- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Vedanta Resources Plc - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Planning Commission, India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
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