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Genesis hires designer for Sask. low-carbon NH3 plant
Genesis hires designer for Sask. low-carbon NH3 plant
Houston, 25 November (Argus) — Fertilizer start-up Genesis Fertilizers has reached a front-end engineering design agreement with DL Engineering & Constructions (DL E&C) for Canada's first proposed low-carbon nitrogen fertilizer facility. Genesis and the South Korean firm aim to start work in December on the Belle Plaine, Saskatchewan, project. Carbonco will be the carbon capture technology provider and Whitecap Resources will assist with other carbon sequestration. Genesis expects to begin commercial operations by 2029 and produce about 1.1mn metric tonnes/yr of nitrogen fertilizers, including urea and ammonium sulfate, as well as diesel exhaust fluid. The company originally planned for a 700,000 t/yr plant but increased capacity because of rising demand of low-carbon products. Genesis aims to be a farmer-owned plant and distribute nearly 75pc of its volume via offtake agreements, selling the rest in the spot market. Once complete, the plant will decrease Canada's reliance on imported nitrogen fertilizer and shrink freight costs across the supply chain, Genesis said. DL E&C is involved in other fertilizer projects including Ma'aden's Ammonia II and III projects in Saudi Arabia as well as the Golden Triangle Polymers Project in Texas. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Chancay Port takes center stage at APLA
Chancay Port takes center stage at APLA
Sao Paulo, 25 November (Argus) — The new $3bn Chancay Port in Peru could disrupt polymers trade throughout Latin America, according to conversations at the 44th Latin American Petrochemical Association (APLA) conference last week in Cartagena, Colombia. Located 80km north of Lima, the Chinese-built port promises to reduce shipping times for Chinese products to the region by up to 20 days, thanks to its direct route across the Pacific Ocean. Chinese President Xi Jinping inaugurated the port in Peru on 14 November. The port was a focal point of discussions among producers and traders in Latin America, but especially for those in the west coast of South America (WCSA), the first region to be possibly affected by Chancay's operations. A polypropylene (PP) producer in Colombia told Argus that the news is not good for them as it would be easy and fast to ship Chinese PP from Chancay to Buenaventura, Colombia's most important seaport on the Pacific Ocean. The company said it is trying to figure out how to deal with the expected increase in resin imports from China. Several other regional resin producers and traders are closely monitoring the situation, trying to strategise their next moves. In the US, the largest polyethylene (PE) exporter to South America, Chancay has already been causing concerns for local producers and traders selling into the region, one source told Argus . The combination of more Chinese PE arriving on South American shores and local governments placing anti-dumping duties on US-produced, as is foreseen in Brazil in the short-term, should lower US sales for the whole region, the source added. Asian resin is already gaining market share in Peru. Currently, the country is the second largest PP importer in South America by volume, and its imports had a significant increase this year even before Chancay's inauguration. PP imports climbed 32pc from January to October, with 90pc more purchases from Asia-Pacific, whose market share expanded from 41pc to 58pc year on year. South American purchases fell 7pc to 57,800t in the same period. Concerns were also raised about the Chancay port being used to distribute Chinese resins to other regional markets, including Brazil and Argentina, via smaller containerships being sent through the Panama Canal. Chancay set to change routes The first phase of the Chancay Port project, which began in 2021, features four berths and a maximum depth of 17.8 meters, allowing it to accommodate ultra-large container ships with capacities of up to 18,000 twenty-foot containers (TEUs). With a projected throughput capacity of 1mn TEUs annually in the short term and 1.5mn TEUs in the long term, Chancay Port is set to significantly impact maritime routes from Asia to Latin America. Over 80pc of the project is already completed, including the main quay structures finished earlier this year. Once fully operational with its 15 docks, Chancay will be South America's first port capable of handling ships too large for the Panama Canal. Additionally, China plans to build a railway linking Chancay with Brazil, its largest Latin American trade partner, later in the decade. The ownership of Peru's Chancay Port is split between two major entities. Cosco Shipping Ports, a Chinese state-owned company, holds a 60pc stake in the port. The remaining 40pc is owned by Volcan Mining Company, a Peruvian firm. This collaboration is part of China's expansive Belt and Road Initiative. By Fred Fernandes Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Star Bulk expects smooth 2025 FuelEU compliance
Star Bulk expects smooth 2025 FuelEU compliance
New York, 25 November (Argus) — Greek ship owner Star Bulk said it expects to meet the 2025 FuelEU regulation without issue. Starting on 1 January 2025, the FuelEU regulation will require that vessel fleets travelling in EU territorial waters cap their lifecycle greenhouse gases (GHG) at 89.34 grams of CO2-equivalent per megajoule through 2029. The company plans to meet this regulation by burning B30 biofuel blends on some of its vessels. This will GHG credits for its remaining vessels that trade in and out of EU territorial waters. Star Bulk does not expect to have difficulty sourcing the B30, but warned that sourcing it could become a challenge from 2027 onward. The International Maritime Organization (IMO) should update its GHG emissions regulation for international shipping to include lifecycle emissions from the current emissions from combustion around mid-2027. The organization will require that vessels globally reduce their lifecycle GHG by at least 20pc by 2030 and by at least 70pc by 2040, compared with a 2008 baseline, and reach net-zero by 2050. This will require additional quantities of biofuel. Unlike the FuelEU regulation which applies to vessel fleets or pools travelling in EU waters, the IMO regulation will apply to individual vessels travelling in international waters. Star Bulk burned 832,371 of marine fuel in 2023, down 4pc compared with 2022. Of this quantity, 708,406t was high-sulphur fuel oil (HSFO), 36,598t very low-sulphur fuel oil (VLSFO) and 87,367t marine gasoil. About 95pc of Star Bulk's vessel fleet is outfitted with marine exhaust scrubbers. The scrubbers allow its vessels to burn HSFO in international waters. Vessels that do not have scrubbers are required by the IMO to burn marine fuel with up to 0.5pc sulphur content maximum, such as VLSFO in international waters. Star Bulk's vessels emitted 2.6mn t of CO2 in 2023, down 4pc from 2022. The company is aiming to reduce its fleet's carbon intensity ratio by 12pc by 2026, from 2019 baseline year, consistent with the IMO's carbon intensity indicator targets. In 2023, Star Bulk achieved 4.32pc reduction relative to 2019. The reduction was largely due to improved vessel performance monitoring, hull cleaning, and optimization of weather and routing, the company said. As of the end of September, Star Bulk owned 155 vessels, chartered 10 vessels and had five newbuild vessels on order to be delivered in 2025 and 2026. In April, the company finalized its merger with Eagle Bulk Shipping . By Stefka Wechsler Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Uruguay's left-wing candidate wins presidency
Uruguay's left-wing candidate wins presidency
Montevideo, 25 November (Argus) — The left-wing opposition Frente Amplio will return to power in Uruguay after winning a hard-fought run-off election on 24 November. Yamandu Orsi, former mayor of the Canalones department, was elected president with close to 51pc of valid votes. He defeated Alvaro Delgado, of the ruling Partido Nacional. The Frente will control the senate, but will have a minority in the lower chamber. It last governed from 2015-2020. Orsi will take office on 1 March in one of Latin America's most stable economies, with the World Bank forecasting growth at 3.2pc for this year, much higher than the 1.9pc regional average. He will also inherit a country that has been making strides to implement a second energy transition geared toward continued decarbonization and new technologies, such as SAF and low-carbon hydrogen. He will also have to decide on future oil and natural gas exploration. Uruguay does not produce oil or gas, but has hopes that its offshore mimics that of Nambia, because of similar geology. TotalEnergies has made a major find there. The Frente's government plan states that it "will deepen the energy transition, focusing on the use of renewable energy, and decarbonization of the economy and transportation … gradually regulating so that public and cargo transportation can operate with hydrogen." On to hydrogen Uruguay is already the regional leader with renewable energy, with renewables covering 100pc of power demand on 24 November, according to the state-run power company, UTE. Wind accounted for 49pc, hydro 35pc, biomass 10pc and solar 6pc. Orsi will need to make decisions regarding high-profile projects for low-carbon hydrogen, as well as a push by the state-run Ancap to get private companies to ramp up oil and gas exploration on seven offshore blocks. The industry, energy and mining ministry lists four planned low-carbon hydrogen projects, including one between Chile's HIF and Ancap subsidiary Alur that would have a 1GW electrolyzer. Germany's Enertrag is working on an e-methanol project with a 150MW electrolyzer, while two Uruguayan groups are working on small projects with 2MW and 5MW electrolyzers, respectively. The Orsi government will also need to decide if it continues with Ancap's planned bidding process for four offshore blocks, each between 600-800km² (232-309 mi²), to generate up to 3.2GW of wind power to produce 200,000 t/yr of green hydrogen on floating platforms. The Frente has been noncommittal about the future of seven offshore oil and gas blocks, including three held by Shell, two by the UK's Challenger — which recently farmed in Chevron — and one each by Argentina's state-owned YPF and US-based APA Corporation. The Frente's government plan states that "a national dialogue will be called to analyze the impacts and alternatives to exploration and extraction of fossil fuels." By Lucien Chauvin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Development of B24 marine biodiesel in Asia: Guangzhou vs. Singapore
Development of B24 marine biodiesel in Asia: Guangzhou vs. Singapore
2024 global LPG pricing review and forecast
2024 global LPG pricing review and forecast
Navigating SAF: Market insights, forecasts, and strategies
Navigating SAF: Market insights, forecasts, and strategies
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