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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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Monday, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
Sunday, 23 February 20
SHIPPING INDUSTRY FACES $370 MILLION HIT FROM NEW PANAMA CANAL CHARGE - REUTERS
A new “freshwater” charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up ...
Sunday, 23 February 20
A 57,000DWT SHIP FIXING DELIVERY SOUTH KALIMANTAN TRIP, REDELIVERY CJK, AT $7,600 - BALTIC BRIEFING
Capesize
The Capesize market found little to cheer about this week as it again endured remarkable lows. The Atlantic continued to improve, with ...
Saturday, 22 February 20
THE SURPRISING MOVE IN MARINE FUEL SPREADS - ING
Middle distillates tank
One of the biggest surprises since the implementation of new International Maritime Organization (IMO) sulphur regulati ...
Friday, 21 February 20
CAPE: AVERAGE NOMINAL DAILY EARNINGS STILL ADMITTEDLY UNCHANGED W-O-W AT BELOW US$3000 - FEARNLEYS
CAPE
The worst may just about be over for the big ships. Average nominal daily earnings still admittedly unchanged w-o-w at below US$3k, but sent ...
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- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
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