Oil Crises News

Mr. Koji Sekimizu says in his blog that it was fitting that Nor-Shipping's theme –  'Next generation shipping' – came in the year that IMO implemented EEDI & SEEM. "Shipping is still in an adjustment period. Shipping is a cyclical industry and we have seen a similar state of affairs in the 1970s, when the world encountered the oil crises in 1973 and 1978. In order to overcome the over tonnage, measures applied by the industry were ship lay-up, slow steaming, and eventually ship scrapping. More than three decades later, we have encountered the same situation.

More than $335 billion worth of expenditure is expected over the next five years on offshore oil & gas operations & maintenance (O&M), according to a new report, The World Offshore Operations & Maintenance Market Forecast 2012-2016, by Douglas-Westwood (DW). Growth of 8% in expenditure is forecast annually 2012-2016, with O&M markets considerably less vulnerable to downturn than their capital-led counterparts. The underlying driver for all activity, both onshore and offshore, is the growth in global energy demand which…

Global competition in the shipbuilding industry, which is continuously intensifying due to the entry of developing countries into the shipbuilding market, leads to decreasing margins and enormous cost pressure in this industry. Many shipyards have already gone bankrupt through the inability to keep to their original budget that the offer was based on. In the naval sector it is not unusual to double the originally estimated costs when building the vessel. The first oil crises in…

“There is an urgent need to consider ways to accelerate the decoupling of energy and CO2 emissions from economic growth,” said Claude Mandil, Executive Director of the International Energy Agency (IEA) at the launch in Brussels of Oil Crises and Climate Challenges: 30 Years of Energy Use in IEA Countries. This new publication examines how energy efficiency and factors such as economic structure, income, lifestyle, climate, prices and fuel mix have shaped developments in energy use and CO2 emissions in IEA countries since the organization was founded 30 years ago. It looks at developments sector-by-sector in detail and provides energy policy-makers with data and insights that will help them find ways to use energy efficiency and lower-carbon fuels to achieve a more sustainable future.

The bunker industry is witnessing interesting times. Throughout the last 12 months, prices have doubled for many grades of fuel, reaching unparalleled levels. At the same time, the industry has seen the launch of the first serious Internet-based marine fuels sales operations. While apparently unconnected, both developments have had a similar effect on the industry. They have underlined the importance of training and education for those in the bunker business. Without knowledge, those working in marine fuels, purchasers in particular, will not be able to face up to the challenges of high prices and electronic trading. The sharp increase in bunker prices during the last year is in stark contrast with what was going on immediately prior to the rise.