A research paper published in the Transportation Research journal during January 2022 found the IMO 2020 regulatory change may have backfired by indirectly leading to an increase in global carbon dioxide (CO2) emissions of up to 323 million mt per year.
It said 323 million mt per year corresponds roughly to 30% of total global shipping CO2 emissions or 1% of total global CO2 emissions.
This was one of the key results of the study in the recently published paper “Indirect CO2 emissions caused by the fuel demand switch in international shipping”.
The research paper was conducted by Gustav Krantz, Miguel Brandao, Mikael Hedenqvist, Fritjof Nilsson from KTH Royal Institute of Technology.
“Unfortunately, adaptation in the form of intensified refining efforts can increase the output ratio of low sulphur oil products and can also cause increased crude oil demand,” it said.
The research goal investigates how adaptive measures to the fuel switch in international shipping impacts crude oil demand and consequentially, greenhouse gas (GHG) emissions.
The researchers said to their knowledge, this is the first study observing a fuel transition, from high sulphur fuel oil (HSFO)/heavy fuel oil (HFO) to diesel in the maritime industry, can lead to a significantly increased global crude oil demand, which most probably will cause increased total CO2 emissions as crude oil extract will ultimately fully oxidise.
Note: The full research paper ‘Indirect CO2 emissions caused by the fuel demand switch in international shipping’ can be downloaded from the link here.
Cash of SGD 4.43 million and USD 243,100, and one piece of 100-gram gold-coloured bar recovered in safe belonging to Abdul Latif Bin Ibrahim kept at Extra Space warehouse storage facility, show court documents.
Program introduces periodic assessments, mass flow metering data analysis, and regular training for relevant key personnel to better handle the MFMS to ensure a high level of continuous operational competency.
U.S. Claims Register Summary recorded a total USD 833 million claim from a total 180 creditors against O.W. Bunker USA, according to the creditor list seen by Singapore bunkering publication Manifold Times.
Glencore purchased fuel through Straits Pinnacle which contracted supply from Unicious Energy. Contaminated HSFO was loaded at Khor Fakkan port and shipped to a FSU in Tanjong Pelepas, Malaysia to be further blended.
Individuals were employees of surveying companies engaged by Shell to inspect the volume of oil loaded onto the vessels which Shell supplied oil to; they allegedly accepted bribes totalling at least USD 213,000.
MPA preliminary investigations revealed that the affected marine fuel was supplied by Glencore Singapore Pte Ltd who later sold part of the same cargo to PetroChina International (Singapore) Pte Ltd.