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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, 12 February 20
MARKET INSIGHT - INTERMODAL
The recent Coronavirus outbreak in China has led to a global health emergency by World Health Organization and it is yet to be seen how long the ph ...
Wednesday, 12 February 20
CHANGES IN LNG MARKET COULD UNDERCUT PLANS FOR NEW JAPANESE COAL PLANTS - CLYDE RUSSELL
Reuters: Clyde Russell
The collapse in the spot price of liquefied natural gas (LNG) in Asia is a short-term phenomenon that may wel ...
Wednesday, 12 February 20
THE SHIPPING INDUSTRY SEES FREIGHT MARKETS IN A COMPLETE STATE OF COLLAPSE AS DEMAND GETS PARALYZED DUE TO CORONAVIRUS OUTBREAK - ALLIED
With China and the world still trying to contain the effects and come to terms with the Wuhan novel coronavirus outbreak, the shipping industry see ...
Wednesday, 12 February 20
WORLD STEEL PRODUCTION IN 2019 - BANCHERO COSTA
In a worrying development, global steel production slowed down considerably in the fourth quarter of 2019. In the final 3 months of 2019, total cru ...
Sunday, 09 February 20
SUPRAMAX: THE ASIAN ARENA STRUGGLED, A 50,000DWT SHIP FIXING A COAL RUN FROM EAST KALIMANTAN TO INDIA AT $2,000 - THE BALTIC BRIEFING
Capesize
The Capesize market endured another dreadful week of calamitous rate level falls, as the usual season low Q1 period combined with rece ...
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Showing 1141 to 1145 news of total 6871 |
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- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- The University of Queensland
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
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