Shanghai Launches Singapore Bunker Price-Linked Incentive Scheme for Shore-Power
In an effort to reduce shipping emissions, Shanghai says it will be implementing an incentive scheme for OGVs calling the port to use shore-power.
OGVs that utilize shore-power when calling Shanghai will receive a flexible price discount based on Singapore bunker pricing.
Shanghai, in an effort to reduce shipping emissions, will be implementing an incentive scheme for ocean-going vessels (OGVs) calling the port to use shore-power, Lloyd's List reports.
Under the plan, which has been issued by the\u00a0Shanghai DRC, Transport Commission, and Finance Bureau, vessels that utilize shore-power at the port will receive a flexible price discount based on Singapore bunker pricing.
Two shore-power facilities instalments have already been launched in two terminals, Shanghai Guandong International Container Terminal and Wusongkou International Cruise Terminal, with facilities expected to be made available to ocean-going boxships before the end of 2015.
Shanghai Municipal Development & Reform Commission says the port will receive subsidies covering up to 60 percent of the cost for installation of the shore-power facilities, half of which will come from a government emission-reduction program, the rest from the port construction fee.
The port will reportedly receive subsidies covering up to 60 percent of the cost for installation of the shore-power facilities
The government will also reportedly sponsor port operators for maintaining the shore-power equipment through a subsidy of Yuan0.07 ($0.01) per kwh.\u00a0
The incentive plan was said to have been developed after a thorough study on the cases of Los Angeles, Hamburg, and Shenzhen, which all run similar programs.
The move comes as shipping emissions come under increased focus in China.
Skangas duel fuel LNG carrier Coral Energy (image credit/Skangas)
Liquified natural gas (LNG) bunker tanker Coralius has made its first trip loading and delivering LNG to and from Norwegian ports, according to trade press reports.
The 5,800 cubic meter capacity tanker, which is owned by Norwegian gas company Skangas, was delivered to the company in June. Skangas also operates LNG carrier Coral Energy.
OPEC Cutback Extension to be Discussed in November, But Developments Could Render Any Deal Meaningless
Analysts say everything from Saudi exploration to rising tensions with North Korea could radically alter the dynamics of the international market. File Image / Pixabay
Ever since the Organization of the Petroleum Exporting Countries (OPEC) extended the duration of its production cuts earlier this year to March of 2018, speculation has been rampant that the meager cutback volume coupled with the large number of members