Noboru UedaChairman & President, ClassNK
The Economics of Eco-Ships
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BDI: 650~Roughly the same as 2009
The PeakBDI: 11,000
The CrashBDI: 650~
Today:
Baltic Dry Index (BDI) Source: Bloomberg
The First Factor – Charter Rates
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The Crash (2009)Capesize $57mPanamax $35mHandymax $31mHandysize $25m
The Peak (2008)Capesize $104mPanamax $58.5mHandymax $50mHandysize $40m
Capesize Panamax Handymax Handysize Source: Drewry
The Second Factor – Ship Prices
$45m$27m$25m$19m
TodayNB Price: 20% below 2009 prices
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The PeakBunkers: $750/t
The CrashBunkers: $250/t
380cst Bunker (Singapore)Source: Bloomberg
Today Bunkers: $680/tMore than 2.5x2009 prices
Baltic Dry Index (BDI)
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The Third Factor – Bunker Fuel Prices
Source: SSY
Today: Bunker Price almost 7 times higher than 1999!
Singapore 380 CST
1999: Bunkers Less than $100/t
Bunker Prices:
Long term trend
of higher prices
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The Third Factor – Bunker Fuel Prices
Why Fuel Costs Matter Now
Newbuilding Price: $27 mil Fuel: 35 t/day Voyages: 250 days
Lifetime Fuel Cost
$21.8 MillionLifetime Fuel Cost
Only 80% of Ship Price
Test Case: Panamax BC Year: 1999
35t/day x $100/t x 250 days=$875,000/year x 25 years
Mil. US$Ship price Fuel price
Source: DrewryS-6
0
50
100
150
200
5 10 15 20 25Years after Delivery
Why Fuel Costs Matter Now
0
50
100
150
200
5 10 15 20 25Years after Delivery
Newbuilding Price: $27 mil Fuel: 35 t/day Voyages: 250 days
Lifetime Fuel Cost
$153 MillionLifetime Fuel Cost
550%of Ship Price
35t/day x $700/t x 250 days=$6.1 Mil/year x 25 years
Mil. US$
Test Case: Panamax BC Year: 2012
Ship price Fuel price
Source: DrewryS-7
The Value of Eco-ShipsStandard Panamax BC and 20% More Fuel Efficient Eco-Ship
Source: Drewry
Mil. US$
Years after Delivery
With Bunkers @ $700 tons a day a 20% decrease
in fuel consumption= $1.2 million savings each year
Lifetime Savings of
$30.6 Million over 25 years
(per ship)
28 tons / day 35 tons / day
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30% GHG reduction via integrating 30% GHG reduction via integrating the following technologies:the following technologies:
Whale back bowWhale back bow Electronically controlled diesel engineElectronically controlled diesel engine Variable nozzle area turbocharger Variable nozzle area turbocharger Waste heat recovery systemWaste heat recovery system Single-screw, twin-engine Single-screw, twin-engine
propulsion systempropulsion system Contra-rotating propellersContra-rotating propellers
eFuture 310T Tanker & 56B Bulk CarrierIHI Marine United (IHIMU)
IHIMU estimates that the initial cost of these new systems will be recouped within 5 or 6 years.
Eco-Ships have already arrived
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Next-generation “G-Series” Capesize & Panamax BC
• LEADGE-Bow • Super Stream Duct (SSD)• SURF-BULB
• Delivery from end of 2013
Universal Shipbuilding Corp. (USC)
20% Fuel savings fromnew technology:
G209BC (209,000 DWT) G80BC (80,000 DWT)
Eco-Ships have already arrived
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Mitsui Engineering & Shipbuilding
Neo Supramax 66BC• 66,000 DWT• Length: abt. 200 m • Beam: 36.0 m• Depth: 18.45 m• Draft: 15.2 m• Fuel savings: 30%Fuel savings: 30%• Launched onto marketLaunched onto market
Fuel Savings30%
Conventional 56BC35 tons/day
Neo Supramax 66BC25 tons/day
MES estimates that the initial cost of these new systems will be recouped within a few years.
Eco-Ships have already arrived
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Imabari Shipbuilding Panamax BC (84,000 DWT)Fuel consumption: under 30 tons/day
Oshima Shipbuilding Panamax BC (77,000 & 82,000 DWT)Fuel consumption: under 30 tons/day
Sanoyasu Hishino Meisho
Panamax BC (82,000 DWT)Fuel consumption: under 30 tons/day“Handy Cape” (120,000 DWT)Fuel consumption: 13% saving
Namura Shipbuilding High Bulk 34 BC (34,000 dwt)Fuel Consumption:10% less than 32BC
Capesize BC (170-180,000 DWT) To market in near future.
Eco-Ships have already arrived
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Improvement of Optimum Hull Form (New bow, hull shape) Reduction of Hull Friction (Coatings, Air lubrication) Improvement of Propeller Efficiency (CRP, ducts) Improvement of Engine Efficiency (Turbochargers, engines Utilization of Renewable Energy (Solar, hybrid systems)
How do we improve efficiency?
We have to look at the entire ship but this requires cooperation across many sectors….
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Industry Wide Initiatives
ShipbuildersMHI, IHI, Oshima…
MakersYanmar, Nippon Paint...
Shipping Co.NYK, MOL, K-Line...
NPO/GovClassNK, MTI, MLIT…
712
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R&D Projects22
30%GHG EmissionReduction vs.Existing Ships
All-Japan GHG Emission Program
Our Contribution: USD 28 Million to 19 of 22 projects
2009-2013
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Combined generator + Turbocharger. Already in use on bulk carrier Shin Koho
CO2 Reduction: 2% Output Terminal Box
High Speed PM Generator
FlexibleCoupling
Hybrid Turbocharger
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Hybrid Power Systems
Auriga LeaderVehicle Carrier
Hybrid solar panel and battery/fuel cell system used to reduce electric power needs during voyage – reducing fuel use.
CO2 Reduction: 2%
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Hybrid Power Systems
Emerald AceVehicle Carrier
Hybrid solar panel and battery/fuel cell system used to eliminate the need for generators/fuel use in berth at port
CO2 Reduction: No emissions in portDelivered: June 2012!
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Air lubrication System Bubbles generated by blower reduce the
frictional resistance between the vessel’s bottom and water.CO2 Reduction : 12-13% at sea trials on Module Carrier
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Air Lubrication
The Solution: A united effort by 10+ Shipyards and research organizations
Revolutionary Technology but with many challenges…
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Many Challenges:•Development and optimization of blower system and controls.
•Testing shape of openings, size of bubbles and effect on hull.
•Study flow of bubbles along hull in order to improve efficiency.
•Develop design tools for application to other ship types.
•Ensure performance (propeller, sea chest, etc) not affected by new system.
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First test application of new MALS Air Lubrication technology on a traditional deep draft cargo vessel, built at Oshima Shipbuilding in Japan for NYK. CO2 Reduction : 4-8% during sea trials depending on draft level
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Results of Collaboration:
Soyo Type: Coal Carrier (BC)Size: 91k DWTLength: 235mBeam: 43mDraft: 13m
Results of Collaboration:
Size: 95k dwt BCLength: 237mBeam: 40mDraft: 12.5m (Designed Load)
MALS-ADMMAX
Jointly developed by rival shipbuildersMitsubishi Heavy Industries (MHI) & Oshima Shipbuilding for sale to U.S. based grain/dry bulk major ADM.
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MALS-14000CS• Capacity: 14,000 TEU• Length: 366 m • Beam: 48.8 m• Draft: 15.2 m• MHI Air Lubrication System (MALS)MHI Air Lubrication System (MALS)• Fuel savings : 35%Fuel savings : 35%
The Next Steps
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Is this Green Revolution Real?
+70%
+15%
MPG
Year
Source: US EPA
Yesterday, Today & Tomorrow
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Thank you very much 谢谢!