BEYOND 2020 SAILING THE GREEN PLANET - PTT PRISM. Sailing The Green Planet.pdf · SAILING “THE...
Transcript of BEYOND 2020 SAILING THE GREEN PLANET - PTT PRISM. Sailing The Green Planet.pdf · SAILING “THE...
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SAILING “THE GREEN PLANET”BEYOND 2020
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IMOSHIPPING INDUSTRY
OIL REFINING INDUSTRY
01 02 03
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IMOSHIPPING INDUSTRY
OIL REFINING INDUSTRY
01 02 03
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IMO
INTERNATIONAL MARITIME ORGANIZATION
“Safe, Secure, and Efficient Shipping on Clean Oceans”
OBJECTIVE
174 STATESMEMBER & 3 ASSOCIATE
MEMBERS(Faroes, Hong Kong, & Macao)
“Creates regulation”
ROLE
Thailand
3
IMO REGULATING INTERNATIONAL MARITIME SHIPPING
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IMO
Annex VI
“Air pollution from ships”
KEY PREVENTION
CONVENTION
MEMBERSHIP
MEMBERS IN ASEAN
Vietnam
Indonesia
Singapore
Philippines
“THAILAND is not a member,but might need to follow
the regulation”
4
SULFUR CAP IN BUNKER FUEL UNDER MARPOL ANNEX VI
Annex IV
Annex V
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THE OF THE MARINE SULFUR REGULATION
0.1%S cap in ECA zones
20150.5%S globally in 2020
Jul 2017
0.5%Scap globally
7X REDUCTION OF %S IN GLOBAL BUNKER FUEL
4.5%S to 3.5%S globally
2012
North America ECA
Baltic & North Sea ECA
2020
5
IMO
0.5%S in some China’s ECA zones
Oct 2018
China ECA
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TO SULFUR CAP (1/2)
6
(97% of global shipping tonnages)
91 Countries Ratifying
IMO
GOVERNMENT ENFORCING IMO REGULATIONS, NOT IMO
HSFO Carriage Ban
on Ships without Scrubbers
X
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7
Major Companies Control
Most of Shipping Capacity
Major 50
Shipping
Firms
(94%)
World Shipping Capacity
Others
IMO
CONCERNS OVER REPUTATIONAL RISK & LOSS OF INSURANCE COVERAGE
TO SULFUR CAP (2/2)
No. of Ships Bunker Demand
85%
25%
Large Ships Dominate
Bunker Oil Consumption
Large
SmallShips
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IMOSHIPPING INDUSTRY
OIL REFINING INDUSTRY
01 02 03
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Shipping Industry
OPTIONS
9
LOW-S FUEL OIL (LSFO)/ MARINE GASOIL (MGO)
I
SCRUBBER
II
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TECHNOLOGY
10
Exhaust GasWashwater
Scrubbed Exhaust Gas
Sea Water
from Engine
SCRUBBER PROCESS53% of Global Fleet
Aged +20 years
Washwater Disposal
Limited Scrubber AvailabilityUp-Front Cost (VLCC ~ $3-$6 MM)
KEY CHALLENGES
Shipping Industry
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TO COMPLY WITH IMO’s REGULATIONS
11
0.5%S
Shipping Industry
LOW-S FUEL OIL (LSFO)/ MARINE GASOIL (MGO)
I
SCRUBBER
II
LNG
III
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BUNKERING TECHNOLOGY
Large LNG Bunker Tank
Up-Front Cost
Limited Bunkering Ports Complex Operation
LNG BUNKERING
12
Shipping Industry
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OPTIONS
13
SCRUBBERLOW-S FUEL OIL (LSFO)/ MARINE GASOIL (MGO)
RISING LSFO & MGO DEMAND
LNG
0.5%S
SCRUBBER LNG
02 Shipping Industry
I II III
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GLOBAL BY FUEL TYPE
14
2017
64%High-S
Fuel Oil
2% LNG
2020
11%High-S
Fuel Oil
3%LNG
AFTER 2020
High-S
Fuel OilLNG
Shipping Industry
5.7 MMBDTotal
Demand6.1 MMBD
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IMOOIL REFINING
INDUSTRY
01 03
SHIPPING INDUSTRY
02
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OPTIONS
16
III REFINERYINVESTMENTI CRUDE OIL GRADE
SWITCHING
II FUEL BLENDING
Oil Refining Industry
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Higher Sweet Crude Demand
SOUR CRUDE SWEET CRUDE
Oil Refining Industry
GRADE SWITCHING
17
SULFURSULFUR
HIGHLOW
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FUEL
18
Oil Refining Industry
DIESEL HIGH SULFURFUEL OIL
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REFINERY
19
Oil Refining Industry
SIMPLE REFINERY
HIGH-SFUEL OIL
DIESEL
JET
GASOLINE
Long Construction Period & High Investment
TREATING UNIT
UPGRADING UNIT
DIESEL
JET
GASOLINE
LOW-SFUEL OIL
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OPTIONS
20
III REFINERYINVESTMENTI CRUDE OIL GRADE
SWITCHING
II FUEL BLENDING
Oil Refining Industry
INVESTMENTIII REFINERY
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DEMAND GROWTH OUTPACING SUPPLY GROWTH
Additional
LSFO/MGO Demand
Additional
LSFO/MGO Supply
21
LSFO/MGO Price
Year
Price
20202018
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22
THE GREEN PLANETSAILING