Due to the global oversupply of crude oil some oil traders are now beginning to charter large crude carriers to establish floating storages as a way to support oil prices in the short term, says analysts at JBC Energy in Vienna.
The Coriolis effect explained and how it is used in mass flow measurement. Such measuring has industrial application in the Maritime industri, where it is used to ensure bunkering operations by securing the measurement of marine fuel oil. Bunkering operations that may otherwise be tampered with.
IMO (The International Maritime Organization) has adopted the Polar Code (The international code for ships operating in Polar waters) and amendments related to SOLAS (Safety of life at Sea).
It is expected that the amendment will enter into force from January 1st 2017.
IEA, the International Energy Agency, has predicted a rapid increase in demand for MGO (Marine Gas Oil). The cause of the increase in demand is due to the stricter regulation on sulfur emissions applicable from 1st of January 2015.
Jan-Paul de Wilde, Designer at Rolls-Royce Singapore, highlighted the advantages of using LNG as a marine fuel. He pointed out that LNG produces 22% reduced greenhouse gas, 92% reduced nitrogen oxide (NOx) emission and nearly a 100% reduced sulfur oxide (SOx) emission.