Friday, 16 March 2018 10:30

Mar 16 - Pacific Oak

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501 pacificoak1

 

Anchored in Burrard Inlet on the direct route between Seabus Terminals last weekend and earlier this week was the Japanese owned Capesize bulk carrier Pacific Oak. That she was anchored in the inner harbour for an extended period continues to highlight the acute shortage of Capesize anchorage capacity. Pacific Oak was waiting for cargo readiness to load coal at Westshore’s Roberts Bank Terminal and I caught the above picture while on the Seabus heading over to the HSBC Canada Sevens rugby tournament for one of the best weekends of the year for entertainment in Vancouver.
 

Built by  JMU Ariake Shipyard, Kumamoto, Japan in 2005
Owned and operated by Hokuku Marine, Tsukumi, Japan
LOA 299.95m
Beam 50.0m
GRT 101,933 tons
DWT 203,212 MT


501 pacificoak2 500 Girolando Express3

 

After a downturn in 2016, coal exports through the Port of Vancouver staged a recovery in 2017 with an overall increase of around 11% to 36.8 million tons through the Westshore and Neptune Terminals. British Columbia’s third export coal outlet, Ridley Terminals in Prince Rupert, saw coal shipments begin to recover at 7.6 million tonnes, a 90% increase over 2016 volumes. While there are countries that have seen a decline in consumption, coal still makes up 29% of global primary energy and 41% of global electricity. In its latest forecast, BP predicts that China will remain the world’s largest market for coal, still accounting for nearly half of global coal consumption by 2035. India is the largest growth market, with its share of world coal demand doubling from around 10% in 2015 to a forecast 20% by 2035.
 

Also in the 2018 Energy Outlook, https://www.bp.com/en/global/corporate/energy-economics/energy-outlook.html BP highlights how growing industrialisation and prosperity will drive an overall increase in global energy demand and how that demand will be met with an increasingly diverse energy mix. The Outlook highlights that while China is moving away from coal and has significantly increased its solar and wind capacity, it has also increased coal fired power generation by a third and coal still accounts for more than half of that country’s energy mix. At the same time, the coal industry is throwing its weight behind the development of low emissions technologies to help meet global climate goals, including carbon capture use and storage (CCUS) which can reduce emissions from fossil fuels by up to 90%.
 

By the way, Fiji won the Canada Sevens this year with Kenya runners up and South Africa taking the bronze.

 

Ship of the Week contributed by Captain Stephen Brown, West Pacific Marine Ltd

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