Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
"A huge search operation is under way for six missing people, authorities say, while two others have been pulled from the water"
Hope and pray they find those 6 safe and well.
A major bridge in the US city of Baltimore has collapsed into the Patapsco River after a container ship crashed into it
Lawyers are gonna be busy with this one.
https://www.bbc.com/news/live/world-us-canada-68663071?src_origin=BBCS_BBC
"For years, the shipping industry, governments and environmental groups have wrangled on how to make the transport of goods by sea greener.
The issue was deemed just too difficult to be included in the 2015 Paris climate pact to keep down global warming."
https://www.bbc.com/news/science-environment-66064838
Too difficult........unbelievable..
Cepsa, Maersk and Renfe have successfully completed the first test in Spain of renewable fuels in rail transport.
This second-generation biofuel, which replaced the conventional diesel used in Renfe’s locomotives, was produced at Cepsa’s La Rábida Energy Park (Huelva) from used cooking oils.
https://biofuels-news.com/news/cepsa-maersk-and-renfe-complete-first-100-spanish-rail-journeys-with-hvo/
Https://www.offshore-energy.biz/hydrowing-gears-up-for-welsh-tidal-energy-project-with-streamlined-tocardo-turbines/
UK-based company HydroWing has unveiled plans for its 10MW tidal energy project in Wales, supported by the UK government’s renewables auction scheme, which will future next-generation Tocardo tidal turbines wit significant increases in yield.
Https://koole.com/unique-capabilities-for-new-energy-sources-at-koole-tankstorage-botlek/
Koole Tankstorage Botlek (KTB) is a deep-sea terminal located in the heart of the Port of Rotterdam and is focused on the storage of chemicals, minerals, and biofuels, operating 24/7.
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Maersk signs low sulfur deal with Rotterdam refinery
Maersk Oil Trading has entered yet another agreement with a refinery to produce low-sulfur fuel oil. This time with a refinery in Rotterdam.
https://shippingwatch.com/suppliers/article11597293.ece
Could Maersk Oil trading be back in the frame? A bit out there but possible??????
Oil refineries in the port of Rotterdam
Shell Nederland
ExxonMobil
Vitol
BP
Gunvor Petroleum Rotterdam
"The fleet of LNG-capable and LNG-ready vessels continues to grow, but fuel costs are not supportive of LNG consumption. As the regulatory net tightens, elusive returns for the first movers into LNG will not embolden other ship owners to take the plunge. "
https://www.naturalgasworld.com/lng-demand-from-shipping-faces-uncertain-future-gas-in-transition-108155
Any idea how to free up those distillates.........no idea????
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The cost of diesel, previously deemed “relatively” stable, is now on the brink of hitting the 2 euro per litre mark. European refineries are finding it difficult to boost diesel production, a factor that could cause the price to increase significantly. It’s noteworthy that since the end of 2020, diesel prices have already seen considerable hikes. If this trend continues, it could be the third time in history that the price exceeds 2 euros per litre.
https://jasondeegan.com/warning-diesel-shortage-crisis-looming-over-europe/
"Speaking at the 24th World Petroleum Congress (WPC) in Calgary, Canada, Nasser emphasized the world deserves a more realistic, more robust energy transition plan, which should reasonably incorporate the continued deployment of new energy while recognizing the continued need for conventional power.
Nasser stressed that energy transition strategies should consider potential consequences if energy security and affordability are overlooked. He welcomed global leaders' acknowledgment that realistic solutions are necessary for the transition phase."
Ideas anyone?
https://english.aawsat.com/business/4555296-aramco-ceo-calls-proactive-measures-avert-severe-energy-crisis%C2%A0%C2%A0
As global freight rates continue to fall, container shipping lines are being hit by a huge spike in fuel costs.
This will inflict further damage on the bottom line of the financials of weaker carriers already challenged by second-quarter losses.
According to Ship & Bunker data, the price of Rotterdam-sourced industry-standard low-sulphur fuel (VLSFO) jumped on Friday by another $8 per ton to $643 and has now increased by 22% since the end of June.
https://theloadstar.com/box-lines-hit-by-rising-fuel-costs-as-opec-cuts-supply/
Vince - found this also:-
Documents filed by Nova Scotia Power show that three of four coal-fired units at the Lingan Generating Station will be converted to heavy fuel oil in 2030 and are scheduled to operate until 2050.
“I have to say, I was a bit surprised,” Nova Scotia Utility and Review Board member Jennifer Nicholson said at a recent hearing. “It doesn’t really seem a lot cleaner.”
David Pickles, chief operating officer of the privately owned utility, responded to Nicholson by explaining that the company is required by federal regulation to stop burning coal by 2030.
In 2016, the federal government announced coal would be entirely phased out by 2030, a move estimated to reduce greenhouse gas emissions by nearly 100 million tonnes over the following two decades.
Pickles told the hearing it would be less expensive to convert its coal-burning generating station than to replace it, as the Cape Breton facility already has the capacity to run on oil. The emissions from coal and heavy fuel oil are comparable, he added, but the facility has “a really low utilization rate” and is usually only used to generate reserve electricity during the coldest days of winter.
Thomas Arnason McNeil, climate policy coordinator at the Halifax-based Ecology Action Centre, said NS Power is “getting around” coal restrictions by using a fossil fuel with comparable emission levels.
“It’s absolutely outrageous,” he said in an interview. “It would be laughable if it wasn’t so dire, I think, and disturbing, quite frankly.”
https://www.theenergymix.com/2023/07/12/nova-scotia-to-convert-cape-breton-coal-plant-to-burn-oil/
"Nova Scotia Power plans to burn heavy fuel oil at phased-out coal plants"
Lack of ambition
When asked by Nicholson what happens if government decides to ban the use of heavy fuel oils, Pickles said: "We would need to add additional firm capacity to replace that lost generation, so [it] could be natural gas, fast-acting generation, some other form which could also require heavy fuel oil or light fuel oil given the limited nature of natural gas available here in the province."
https://www.cbc.ca/news/canada/nova-scotia/nova-scotia-power-plans-to-burn-heavy-fuel-oil-1.6895930
"In response to the Norwegian discovery, the Moroccan Phosphate Office (OCP) has launched a major Dh130 billion investment programme for the period 2023-2027. This programme focuses on increasing fertiliser and rock production capacities and achieving carbon neutrality by 2040. "
https://www.atalayar.com/en/articulo/economy-and-business/norway-challenges-moroccos-position-top-phosphate-supplier/20230703181130187642.html
The price increases come as OPEC+ heavyweights Saudi Arabia and Russia extended their voluntary production cuts in an effort to balance the markets—and to make good on Mohammed bin Salman’s threat to punish short sellers and oil speculators who dare to bet against crude oil.
https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Soar-To-10-Month-High.html
"Time to Start Worrying Again About Rising Cost of Ship Fuel":-
"The rising cost of ship fuel, coupled with the escalating freight rates, adds further challenges to an already strained global maritime industry. Shippers and carriers will need to navigate these cost increases and find ways to mitigate the impact on their businesses."
https://www.energyportal.eu/news/time-to-start-worrying-again-about-rising-cost-of-ship-fuel/245815/
September 8, 2023, by Jasmina Ovcina Mandra
Greek shipowner TEN has signed construction contracts for two scrubber-fitted MR product tankers, the company revealed.
https://www.offshore-energy.biz/ten-bolsters-green-vessel-fleet-with-scrubber-fitted-mr-pair/
MSAR next as a starter for.....TEN
"Wärtsilä is conducting the feasibility studies on both newbuild and existing vessels. Retrofit CCS installations will be significantly smoothed if a scrubber is already onboard and the Wärtsilä CCS-Ready scrubbers now on the market are installed onboard in a way that will enables a CCS system to be easily added easily when the technology is commercialized. They are also designed to enable smooth integration with a particulate matter filter."
https://www.marinelog.com/news/wartsila-moves-another-step-forward-on-ccs-ready-scrubbers/
I wonder if those studies include fuels that produce less carbon in the first place.
"“Business leaders tell us that the energy crisis should be seen alongside the many other challenges they have faced over the last twelve months, including economic pressures, cyber security and skills shortages. Yet our research suggests that some of the UK and Ireland’s largest organisations are ‘kicking the carbon emissions can down the road’, as a result of the energy crisis”, said Kelly Becker, Zone President, Schneider Electric UK and Ireland.
“As fears grow about progress against global commitments made under the Paris Agreement, and the UK’s Climate Change Committee warns of a lack of progress on emissions cuts, the UK and Ireland need businesses and organisations in the public sector to play their part and stick to their net zero and emissions reduction targets”, said Kelly Becker."
https://memuk.org/sustainability/environmental/business-net-zero-plans-blown-off-track-by-the-energy-crisis-82991
"As winter approaches, so too do Europe’s energy woes, along with the question of whether the continent has learnt from last year’s crisis. Although the worst fears from last winter did not materialise, it was the second warmest on record. The upcoming months will reveal whether Europe’s energy strategy was a sound one or whether this outcome was pure luck.
This morning, it was reported that planned strikes in Australian liquefied natural gas (LNG) factories caused an 11% surge in European gas prices. Gas reserves in the European Union are at a record 93.5%, but, if events in Australia are any indicator, the continent’s supply rests on a knife-edge."
https://unherd.com/thepost/europe-is-sleepwalking-into-another-energy-crisis/