The 7th International Petroleum and Natural Gas Enterprises Conference (IPEC) is taking place at Zhoushan, Zhejiang province, China between 16 to 17 October.

 The agenda, provided by the Zhoushan High-tech Zone Administrative Committee to foreign event media partner Singapore bunkering publication Manifold Times, is as follows:

16 October

• Registration and sign-in for participating guests
• Meetings between Zhejiang Provincial and Zhoushan Municipal leaders with VIPs

17 October

Morning

Plenary Session of the Conference (Oriental Hall, Zhoushan International Conference Center)

• Leader’s speech, guest keynote speech, signing of major projects

Discussion Topics [*17 October, 2pm to 5pm]

Focus Topic Meeting: Global marine bunker development*
Location: Haitian Hall, Haizhongzhou International Hotel, Zhoushan

14:00-14:05 - Opening of the Meeting

14:05-14:15 - Speech by Leaders

14:15-14:30 - Announcement of "Top Ten Global Bunkering Ports" and "Top Ten Global Bunkering Companies"

14:30-14:40 - Announcement of Construction Work of Northeast Asia Bonded Marine Fuel Bunkering Hub

14:40-14:50 – Launch ceremony of Zhoushan "White-list" Bunker Barge Mass Flow Meter System Pilot Certification Programme

14:50-15:10 - Signing Ceremony

15:10-16:10 - Keynote speech

16:10-16:35 - Coffee break

16:35-17:05 - Roundtable forum (Topic: Facing green and low-carbon transformation in global shipping, how do marine fuels change in response to the trend?)

17:05-17:35 - Roundtable forum (Topic: The road to develop high-quality offshore fuel bunkering metering under the new developments)

17:35-17:40 - Moderator’s summary

Utilising financial innovation, futures and spot cooperation to promote the construction of a hub for the allocation of bulk commodity resources*
Location: Putuo Hall, Zhoushan International Conference Center

Open development of global shipping trade*
Location: Donghai Hall, Hilton Zhoushan

International iron ore trade development*
Location: Banquet Hall 1/3, The Westin Zhujiajian Resort, Zhoushan

Development of China's new chemical materials industry during the “15th Five-Year Plan”*
Location: Banquet Hall 1/3, The Westin Zhujiajian Resort, Zhoushan

Development of non-ferrous metal mining industry*
Location: Lianhua Ocean Hall, Hilton Zhoushan

16 and 17 October
International maritime law of the free trade port (zone)
Location: Fortune Hall, Zhoushan CaiFu Hotel

 

Photo credit: Zhoushan High-tech Zone Administrative Committee
Published: 11 October, 2024

Energy trader Vitol’s Head of Asia Mike Muller on Wednesday (9 October) said the company is anticipating being granted a LNG bunker licence in Singapore soon. 

“It would be unthinkable not to deploy at least one of the three barges Vitol has on order in Singapore,” he said. 

Mike Muller made the announcement during the Viewing the Energy Transition Through the Lens panel discussion at the 23rd Singapore International Bunkering Conference (SIBCON).

“We expect to see growth in LNG use as a bunker fuel for at least another decade, and probably longer,” he added. 

On the increasing uptake of biofuels, he said Vitol is seeing demand for biofuel blended bunkers in Singapore roughly doubling every year at the moment, heading for around 1 million mt this year and maybe 2 million mt next year. 

“Demand for 100% biofuel from shipping customers is also starting to pick up as of this year and we have led the way in commissioning new IMO type 2 barges to fulfil this demand - indeed an important Asian customer of ours has taken three deliveries of B100 UCOME biofuel just in recent weeks here in Singapore,” Muller explained. 

Manifold Times previously reported Vitol securing three LNG Bunkering Vessels (LNGBV) through its shipping company, Vitol International Shipping Pte Ltd (VIS).

The vessels were secured via a seven to ten year time charter agreement with Avenir LNG Limited (Avenir) and an order for two vessels at the CIMC Sinopacific Offshore & Engineering Co. Ltd shipyard in Nantong, China.

The time charter agreement with Avenir is for one newbuild 20,000m3 LNGBV. The time charter will commence at delivery from the shipyard in China in Q4 2026 and will serve a period of seven years with options to extend up to ten years in total

Vitol also ordered one 12,500 m3 and one 20,000 m3 LNGBV at the CIMC SOE shipyard in China. The vessels will be delivered in Q4 2026 and Q3 2027 respectively.

Related: Vitol secures LNG bunker vessel trio with time charter deal and newbuilding order

 

Photo credit: Vitol
Published: 11 October, 2024

A project assessing the technical feasibility of onboard carbon capture and storage (OCCS) in the shipping sector has concluded that the technology has the potential to help maritime transport significantly reduce its greenhouse gas emissions, according to a joint statement on Thursday (10 October). 

The engineering project analysed the design and cost implications of retrofitting a carbon capture system on the medium-range tanker Stena Impero. It found that the technology could reduce the vessel's carbon dioxide (CO2) emissions by as much as 20% per year, with a fuel consumption penalty of just under 10%.

The project was carried out by the Oil and Gas Climate Initiative (OGCI), the Global Centre for Maritime Decarbonisation (GCMD) and Stena Bulk together with a consortium of maritime organisations.

The project, Realising Maritime Carbon Capture to Demonstrate the Ability to Lower Emissions, (REMARCCABLE) was supported by a consortium comprising American Bureau of Shipping, Alfa Laval, Deltamarin, Lloyd's Register, Seatrium, and TNO. It aimed to assess the viability of deploying carbon capture systems on vessels with minimal impact on operational constraints.

The cost of building and installing the full system on the Stena Impero is estimated at USD13.6 million, with an abatement cost of avoided CO2 for the first-of-a-kind prototype evaluated at USD 769/tonne CO2. 

However, the consortium believes that further research and development will drive down costs, making OCCS increasingly viable for the shipping industry.

The study also looked at incorporating OCCS on newbuild vessels, with the findings that improvements to capture rate and fuel penalty may be achieved using more efficient engines, heat pumps, and alternative solvents.

Professor Lynn Loo, CEO of GCMD, said: “OCCS has gained traction in recent years as a feasible approach to meet the 2023 IMO revised GHG emissions reduction targets. However, its adoption faces numerous hurdles, including the need to balance the tension between maximising CO2 capture rates while maintaining commercially acceptable CapEx and OpEx. This study provides quantitative insights on managing the trade-offs between the actual cost of operating OCCS and its emissions reductions potential.

“For OCCS systems to be practical, the industry needs to manage captured CO2 effectively. To this end, GCMD has previously completed a study to define the operational envelope for offloading onboard captured CO2, contributing to the whole-of-system approach to emissions reduction via carbon capture.”

 

Photo credit: Global Centre for Maritime Decarbonisation
Published: 11 October, 2024