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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, 13 March 20
PANAMAX: SLIGHTLY STRONGER NUMBERS IN BOTH BASINS THIS WEEK - FEARNLEYS
Cape
Still very sad times for the big ships, and merit in further trading at present levels is highly debatable for most tonnage. Spot fixtures ...
Friday, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 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, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
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- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
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