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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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Wednesday, 11 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.07 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points Monday, up 0.07 percent week on week.
The index, released by China ...
Wednesday, 11 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
On the 4th of September the Baltic Dry Index marked its highest level for 2019, reaching 2,518 points, while the rest of the dry indices also recor ...
Tuesday, 10 March 20
SHIPPING MARKET ANALYSIS
It might be already overstated, but it seems to be important to point out once again how peculiar the current circumstances are.
Before the st ...
Tuesday, 10 March 20
EIA FORECASTS U.S ELECTRIC POWER SECTOR DEMAND FOR COAL WILL FALL BY 81 MMST (15%) IN 2020
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019. According to EIA's Shor ...
Tuesday, 10 March 20
CORONAVIRUS: DEMAND DOWNGRADES FOR BULK COMMODITIES - WOOD MACKENZIE
The coronavirus outbreak is a rapidly evolving news story – and a real wildcard for bulks demand. Our global experts are monitoring the impac ...
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- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
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