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© 2016. NYK Group. All rights reserved. © 2016. NYK Group. All rights reserved.
Global Sulfur Cap on Maritime Fuel
Norway – Japan Maritime Seminar
Koji Shinozaki NYK Line
24th January 2017
© 2016. NYK Group. All rights reserved.
CHAPTER
© 2016. NYK Group. All rights reserved.
Regulation for maritime emission – the option to choose
1
2
© 2016. NYK Group. All rights reserved.
IMO Global Sulphur Cap
3
IMO Sulphur Oxides (SOx) Regulations
• MARPOL International Convention for the Prevention of Pollution from Ships
• Annex VI Prevention of Air Pollution from Ships (entered into force 19 May 2005)
2020 global sulphur cap implementation date decided
In a landmark decision for both the environment and human health, 1 January 2020 was confirmed as the implementation date for a significant reduction in the sulphur content of the fuel oil used by ships.
The decision to implement a global sulphur cap of 0.50% m/m (mass/mass) in 2020 represents a significant cut from the 3.5% m/m global limit currently in place and demonstrates a clear commitment by IMO to ensuring shipping meets its environmental obligations.
(Global)
2010 2015
(Global)
(Global)
4.5%
3.5%
0.5%
(ECA)
Sulp
hur
Conte
nt
2012 2020
0.1%
1.5%
1.0%
(ECA)
(ECA)
SOx Regulation
© 2016. NYK Group. All rights reserved.
Emission Control Area (ECA)
4
SOx 0.1% 2015~ ECA (North Sea, Baltic Sea, US Cost)
SOx 0.5% 2019~ China (PRD, YRD, Bohai Rim)
SOx 0.5% 2020~ EU EEZ(Exclusive Economic Zone)
SOx 0.5% 2020~ Global
EU EEZ ECA
© 2016. NYK Group. All rights reserved.
• Use Existing fuel and Invest Scrubber
HFO + Scrubber
• Marine Gas Oil or Ultra low sulfur fuel oil
MGO / Sulfur Compliant Fuel
• New fuel to maritime industry
LNG
3 Options
5
© 2016. NYK Group. All rights reserved.
World Demand – Marine Fuels
6
(million ton)
6
U.S./
Canada
24.2
* Source : IEA Energy Statistics
ARA
20.5
West/
North
Europe
26.6
MED
9.3 Japan
7.2
Russia
1.8
China/
Hong
Kong
36.3
Korea
8.4
Middle
East
21.6
Oceania
0.8
Central
America
5.3
Other
Asia
4.9
South
America
8.1
Singapore
42.7
World Total
240.1
© 2016. NYK Group. All rights reserved.
Emission – LNG case
7
SOx 100%
80%(4 stroke)
CO2 25% PM 100%
Nox 15%(2 stroke)
67%(+EGR)
© 2016. NYK Group. All rights reserved.
SOx Options Pros /Cons
8
Options Pros Cons
LSMGO / ULSFO No (or very limited) initial investment
High Fuel Price Future Availability
HFO + Scrubber (Open Loop)
Existing Avail Fuel Low fuel price
Intimal investment Dumping Sludge into Sea – possible new regulation
HFO + Scrubber (Closed Loop)
Existing Avail Fuel Low Fuel Price
Initial Investment OPEX cost increase for sludge treatment
LNG SOx / NOx compliant High initial Investment cost Very limited Availability
Quite unlikely to install Scrubber onto existing (relatively aged tonnage) due to limited payback period.
Most of the case, the industry should rely on the supply of LSMGO / Sulfur Complaint fuel.
© 2016. NYK Group. All rights reserved.
CHAPTER
© 2016. NYK Group. All rights reserved.
An Option – LNG as Marine Fuel
2
9
© 2016. NYK Group. All rights reserved.
Price at same as LNG LHV
Price as is
Price Comparison - Rotterdam
NBP Natulal Gas
HFO
$362/MT
MGO
$569/MT $345/MT
At price on Dec 2016
$345/MT $300/MT $490/MT
Liquefaction Cost Logistics Cost
© 2016. NYK Group. All rights reserved.
Price Comparison - Rotterdam
Equivalent at same LHV LNG Price without liquefaction / logistics cost
(MGO – ICE NBP Natural Gas Futures) Ave $449/MT
$/MT
0
200
400
600
800
1000
1200
1400MGO-N.Gas
N.Gas
HFO
MGO
© 2016. NYK Group. All rights reserved. 12
Price Comparison - Japan
LNG price based on statics MOF Japan HFO, LSDO prices are adjusted as same as LHV LNG
Ave (LSDO – LNG) = Ave $227/MT
(200)
0
200
400
600
800
1,000
1,200
1,400
'20
03
/01
'20
03
/07
'20
04
/01
'20
04
/07
'20
05
/01
'20
05
/07
'20
06
/01
'20
06
/07
'20
07
/01
'20
07
/07
'20
08
/01
'20
08
/07
'20
09
/01
'20
09
/07
'20
10
/01
'20
10
/07
'20
11
/01
'20
11
/07
'20
12
/01
'20
12
/07
'20
13
/01
'20
13
/07
'20
14
/01
'20
14
/07
'20
15
/01
'20
15
/07
20
16
/01
20
16
/07
LSDO-LNGLNGHFOLSDO
$/MT
© 2016. NYK Group. All rights reserved.
Prospection – LNG fuel market penetration
(2015): “LNG’s market penetration in 2025 could range from 5 to 27 percent.”
(2014):
“LNG will reach a maximum 11% share by 2030 in Status Quo.”
(2014):
“LNG uptake is expected to grow fast in the next 5 to 10 years”
(2011):
“Ongoing LNG infrastructure development will continue to enable LNG LNG in certain sectors, representing abt. 8% of global bunker demand by 2030.”
World Bunker Demand: 240 million MT
10% = 24 million MT by 2030
© 2016. NYK Group. All rights reserved. 14
LNG Fuel – Merits & Demerits
MERIT DEMERIT
Fit for new regulation SOx Reduction 100%
NOx Reduction 10~50 % (lean burn) CO2 Reduction 20~25%
PM Reduction 90~100%
Initial Investment 20~30% increment on N/B Price
Price competitiveness with MGO/ULSFO Increment – Tank Space Less Cargo Space
Dual Fuel Redundancy Training to Crew
Supply Infrastructure – Still way to go
© 2016. NYK Group. All rights reserved.
LNG-supply Method
Truck to Ship For Smaller tonnage
Shore to Ship Require Infrastructure
Ship to Ship Flexible Operation
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LNG Fuel – Technical Solution
16 16
Dual Fuel Engine
Fuel Tank
【Membrane, SPB】 • Require BOG management • Require Sloshing counter measure (Membrane) • SPB – Heavy Tank weight
【Type C (Pressure Tank)】 • BOG - Manageable • Not suitable for large size tank • Eat rather huge space within ship’s hull
【X-DF (Otto Cycle)】 • Less Consumption than MEGI – Methane Slip • Clearance for NOx Tier III (Gas Mode)
【MEGI (Diesel Cycle)】 • Good Consumption • Require High Pressure FGSS
© 2016. NYK Group. All rights reserved.
LNG-Fueled Vessels
(Source: DNV GL)
Ship Type Total Owners
欧州 北米 その他 欧州 北米 その他
Car/passenger ferry 28 1 0 11 10 0 50 Fjord1, Viking Line, BC Ferries
PSV 16 2 0 4 4 0 26 Harvey Gulf, Siem Offshore
Container 0 2 0 19 4 0 25 TOTE, Crowley, Matson
Gas carrier 8 0 0 13 0 0 21 SABIC, Evergas, Navigator Gas
Oil/chemical tanker 2 0 0 14 2 0 18 Tarbit Shipping, Terntank
Tug 2 0 4 3 0 7 16 CNOOC, Buksér & Berging, NYK
Cruise Ship 1 0 0 7 2 0 10 Carnival, MSC
Ro-Ro 2 0 0 2 2 1 7 UECC, TOTE, Norlines, Sea-Cargo
General Cargo 4 0 0 1 0 0 5 Nordnorsk Shipping, Eidsvaag
Patrol 4 0 0 0 0 0 4 Remøy Management
Bulk ship 0 0 0 3 0 0 3 Erik Thun
Cable layer 0 0 0 1 0 0 1 Tideway
Icebreaker 0 0 0 1 0 0 1 Finnish Transport AgancyOther 1 0 1 6 0 0 8 RoPax, Dredger, Jack Up etc
TOTAL 68 5 5 85 24 8 195
Existing Ordered
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Ship to Ship – Bunkering Vessel
Port Player Delivery Capacity Remark
Stockholm AGA (Linde Group)
2013 (converted)
180m3
Converted at the Norges Fiskerstrand Verft shipyard in Norway
Zeebrugge ENGIE/MC/ NYK
2017 5,100m3 Ordered to Hanjin Heavy Industries
Rotterdam Shell
2017 6,500m3 Ordered to STX Offshore & Shipbuilding
Baltic Sea Sirius Rederi / Anthony Veder
2017 5,800m3 Ordered to Royal Bodewes, Netherlands
Baltic Sea / North Sea
Bomin Linde LNG/Klaipedos Nafta
2018 7,500m3 Ordered to Hyundai Mipo
Gulf of Finland LNG-Gorskaya LLC
2018 or 2019
7,300m3 x 3 vessels
Ordered to United Shipbuilding Corporation, Russia
© 2016. NYK Group. All rights reserved.
LNG Fuel Project in US
Port Player Operational
Method Customer
Jacksonville Pivotal LNG / WesPac
2016 Truck to Ship
TOTE Maritime (Service route / Jacksonville - San Juan) Two container vessels “Isla Bella” and “Perla Del Caribe”
Jacksonville Pivotal LNG / NorthStar Midstream
2017 Ship to Ship (2,200m3)
TOTE Maritime (Service route / Jacksonville - San Juan) Two container vessels “Isla Bella” and “Perla Del Caribe”
Port Fourchon Harvey Gulf
International Marine
2016 Shore to Ship Offshore Supply Vessel “Harvey Energy” chartered from Harvey Gulf International Marine to Royal Dutch Shell
Other Project of LNG Fueled Vessels • Vancouver: BC Ferries - New-built / retrofit of LNG fueled ferries • Jacksonville: Crowley Marine - New-built CONRO vessel (2,400TEU+400Vehicles) x 2
© 2016. NYK Group. All rights reserved.
CHAPTER
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NYK as a forerunner on LNG as Marine Fuel
3
20
© 2016. NYK Group. All rights reserved.
LNG fueled Tugboat “Sakigake”
A Project subsidized Japanese Government (MLIT) and Class NK
Build :31st Augest 2015
Yard :Keihin Dock K.K. (an affiliate company of NYK
Engine :Niigata Power Systems Dual Fuel engine
Operator :Wing Maritime Service K.K.
Operating Area : Yokohama, Kawasaki
Thanks to :
• METI
• Agency for Natural Resources and Energy
• MLIT
• Japan Coast Guard
• Port of Yokohama
• Tokyo Gas
21
© 2016. NYK Group. All rights reserved.
LNG fueled Car Carriers
22
Car Capacity 3,800RT
LOA 181.00m
Beam 30.00m
Designed draft 8.40m
Classification Lloyds
Main Engine MAN B&W (MCR 11,000kW)
Auxiliary Generators Wartsila
Bunker Station
LNG Tank
© 2016. NYK Group. All rights reserved.
LNG bunkering business in Europe
23
LNG bunker business J/V LNG bunker business J/V
ENGIE ENGIE MC MC NYK NYK
Ship Owning J/V Ship Owning J/V
ENGIE ENGIE MC MC NYK NYK Fluxys Fluxys
LNG Bunkering Vessel
LNG Sourcing Agr.
Terminal Use Agr. Authorization
TCP
SBC
LNG Bunkering Agr.
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LNG Bunkering Vessel (LBV)
24
24
LNG Terminal
PCTC Berth
Zeebrugge Project
* Source : Google Map
Builder: Hanjin Heavy Industries & Construction
Delivery: 2017 Operational Area: Zeebrugge, North Sea Engine: Dual Fuel (LNG + MGO) LNG Tank Capacity: 5,100m3 (Type C) Ship Management: NYK LNG Shipmanagement (UK)
© 2016. NYK Group. All rights reserved.
Branding “Gas4Sea”
World wide branding for LNG fuel business
Launched on 6th September 2016 at SMM conference in Hamburg, Germany
26
© 2016. NYK Group. All rights reserved. © 2016. NYK Group. All rights reserved.
Legal Disclaimer No part of this document shall be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of NYK Line.
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