Seaborne Energy Business 2030
UNIVERSITY OF NEWCASTLE UPON TYNE
SCHOOL OF MARINE SCIENCE AND TECHNOLOGY
SEMESTER 2
2012/13
MODULE: MAR8029 MARINE TRANSPORT AND ECONOMICS
THE SEABORNE ENERGY TRANSPORT BUSINESS IN 2030
LECTURER: PROFESSOR IAN L. BUXTON
ARRYO KHRISNA HARMAN - 120365887
1. CURRENT SITUATION OVERVIEW
Energy commodity trade play a very important role in the world seaborne trade. There are two most significant commodities in the seaborne energy transport business that currently have major contribution to the world seaborne trade, which are crude oil and coal. BP (2012) stated that in 2011 global oil consumption has increased 0.7 per cent to reach 88 million BOPD. Despite the fact that the consumption is not picturing a significant amount of growth, according to UNCTAD (2012), in the same period crude oil load capacity reached 1.8 billion tons and has an account for approximately one third of the total world seaborne trade.
Meanwhile, global consumption of coal has increased significantly in the same period. As BP (2012) mentioned in the BP Statistical Review of World Energy June 2012, coal has grew by 5.3 per cent, which is the only fossil fuel that increased above the average and the fastest growing energy outside renewable energy. Coal trade across countries are also illustrated remarkable growth. Between year 1999 and 2011 in tonne mile unit coal trade has risen 67 per cent to a number of 2196 tonne miles (UNCTAD, 2012).
Furthermore, another energy source that has a very promising prospect to the world seaborne trade is LNG. LNG is the third sources of energy most consumed globally, after oil and coal. This type of energy has shown a considerable escalation in the last 10 years. Since 2000, LNG consumption has grown by over 30 per cent (BP, 2012). Likewise, from 1999 to 2011, LNG seaborne trade has escalated way more significant, which reach the number of 258 per cent (UNCTAD, 2012).
Lastly, the other prospectus energy that possibly able to provide
SCHOOL OF MARINE SCIENCE AND TECHNOLOGY
SEMESTER 2
2012/13
MODULE: MAR8029 MARINE TRANSPORT AND ECONOMICS
THE SEABORNE ENERGY TRANSPORT BUSINESS IN 2030
LECTURER: PROFESSOR IAN L. BUXTON
ARRYO KHRISNA HARMAN - 120365887
1. CURRENT SITUATION OVERVIEW
Energy commodity trade play a very important role in the world seaborne trade. There are two most significant commodities in the seaborne energy transport business that currently have major contribution to the world seaborne trade, which are crude oil and coal. BP (2012) stated that in 2011 global oil consumption has increased 0.7 per cent to reach 88 million BOPD. Despite the fact that the consumption is not picturing a significant amount of growth, according to UNCTAD (2012), in the same period crude oil load capacity reached 1.8 billion tons and has an account for approximately one third of the total world seaborne trade.
Meanwhile, global consumption of coal has increased significantly in the same period. As BP (2012) mentioned in the BP Statistical Review of World Energy June 2012, coal has grew by 5.3 per cent, which is the only fossil fuel that increased above the average and the fastest growing energy outside renewable energy. Coal trade across countries are also illustrated remarkable growth. Between year 1999 and 2011 in tonne mile unit coal trade has risen 67 per cent to a number of 2196 tonne miles (UNCTAD, 2012).
Furthermore, another energy source that has a very promising prospect to the world seaborne trade is LNG. LNG is the third sources of energy most consumed globally, after oil and coal. This type of energy has shown a considerable escalation in the last 10 years. Since 2000, LNG consumption has grown by over 30 per cent (BP, 2012). Likewise, from 1999 to 2011, LNG seaborne trade has escalated way more significant, which reach the number of 258 per cent (UNCTAD, 2012).
Lastly, the other prospectus energy that possibly able to provide