• Environmental and Resource Economics Review
• /
• v.16 no.2
• /
• pp.239-273
• /
• 2007

Bunker-C is sold at the different price in the market for international bunkering and for export, though the quality of bunker-c is not much different in two markets. The price difference in two markets tends to increase since 2002 in Korea. This study shows that there is a possibility for a structural change in the price difference in two markets in Korea around June, 2002. In the search for possible explanations for this structural change, empirical analyses found that the price difference in Singapore, which had not have any explanatory power before June, 2002, has explained the price difference in Korea after July, 2002. Other explanatory variable for the price difference was the growth rate of crude oil price in the previous period. The empirical results suggest that the price difference in bunkering market and export market might be explained by the price discrimination which is adopted as a competitive strategy by oil companies in competing with Singapore.

• Journal of Korea Port Economic Association
• /
• v.30 no.4
• /
• pp.69-89
• /
• 2014

The business performance of port industry is steadily getting worse due to international environmental regulation. The port industry should be prepared according to ambient condition change. IMO(International Maritime Organization) is tightening up environmental regulation of vessel and maritime industry field. ECA(Emission Control Area), starting with the Baltic, has initialized and has been expanded. Korea must strengthen the control of vessel in accordance with IMO's restriction, if Korea is designated as emission control area. These situations cause the expansion of LNG-fuelled ships. Add to the larger trend of ships, Korean government should be done a preemptive action against LNG bunkering industry. This study proposes the concept of floating offshore LNG bunkering system and is conducted its economic feasibility evaluation based on empirical analysis. We examine the theoretical foundation and basic information via "A Planning Study on the Engineering Development of Floating Offshore LNG Bunkering Terminal" in 2013 and we evaluate the business potential by using the report above mentioned. The results of this study are as follows. The values of B/C analysis are between 0.679 and 2.516 depending on market share and R&D contributiveness. In case of 10.9%(market share), if market share are 50% and 60%, the value of B/C analysis are 0.697 and 0.837 respectively. Except in two cases, all remaining values are over 1.0. Moreover, the research is conducted sensitivity analysis to remove the project uncertainty. In order to maintain economical validity, a project manager have to establish business strategies which are not to cause increase of expense and sustain market share and R&D contributiveness in the scenario with normal levels.

• Bulletin of the Society of Naval Architects of Korea
• /
• v.56 no.2
• /
• pp.45-49
• /
• 2019

• Journal of the Korean Society of Marine Environment & Safety
• /
• v.29 no.7
• /
• pp.964-970
• /
• 2023

As part of the International Maritime Organization ef orts to reduce greenhouse gas emissions, the maritime industry is exploring low-carbon fuels such as liquefied natural gas and methanol, as well as zero-carbon fuels such as hydrogen and ammonia, evaluating them as environmentally friendly alternatives. Particularly, ammonia has substantial operational experience as cargo on transport ships, and ammonia ship engines are expected to be available in the second half of 2024, making it relatively accessible for commercial use. However, overcoming the toxicity challenges associated with using ammonia as a fuel is imperative. Detection is possible at levels as low as 5 ppm through olfactory senses, and exposure to concentrations exceeding 300 ppm for more than 30 min can result in irreparable harm. Using the KORA program provided by the Chemical Safety Agency, an assessment of the potential risks arising from leaks during ammonia bunkering was conducted. A 1-min leak could lead to a 5 ppm impact within a radius of approximately 7.5 km, affecting key areas in Busan, a major city. Furthermore, the potentially lethal concentration of 300 ppm could have severe consequences in densely populated areas and schools near the bunkering site. Therefore, given the absence of regulations related to ammonia bunkering, the potential for widespread toxicity from even minor leaks highlights the requirement for the development of legislation. Establishing an integrated system involving local governments, fire departments, and environmental agencies is crucial for addressing the potential impacts and ensuring the safety of ammonia bunkering operations.

• Transactions of the Korean hydrogen and new energy society
• /
• v.33 no.2
• /
• pp.142-147
• /
• 2022

Along with the global discussion on climate change prevention, regulations on hazardous substances emitted from ships were also carried out. Batteries have been regularly proposed as a solution for transportation, but lack of energy density has presented hydrogen as a final alternative. This study conducted legal issues regarding the method of providing hydrogen fuel on land and providing hydrogen fuel at sea. It is necessary to study how to institutionalize hydrogen bunkering in the legal system of the licensing system and distribution system.

• Journal of the Korean Institute of Gas
• /
• v.22 no.1
• /
• pp.37-44
• /
• 2018

As the international Maritime Organization is tightening up the emission regulation vessel, many countries and companies are pushing ahead the LNG fuel as one of long term solution for emission problems of ship. as a study on the way to conduct business for LNG bunkering around the world, this study was analyzed in view-point of business models focused on major countries such as Japan, China, Singapore, Europe and United States. The results of this study are as follows. China first established a nation-centered LNG bunkering policy. And then, the state and the energy company have been cooperating and carrying on LNG bunkering business for LNG fueled ships. Some countries in Europe and United States are in the process of LNG bunkering business mainly with private company. To obtain cheaper LNG fuel than bunker-C, the private company has a business model of LNG bunkering on their own LNG fueled ships, while securing LNG with high price competitiveness through partnership with middle class operators such us LNG terminal and natural gas liquefaction plant. Also, the LNG bunkering business around the world is focused on private companies rather than public corporations, but it was going to be focused on large energy companies because the initial cost required to build LNG bunkering infrastructure. Three models (TOTE model, Shell model, ENGIE model) of LNG bun kering business are currently being developed. It has been found that the way in which LNG bunkering business is implemented by different countries is applied differently according to the enterprise and national policy.

• Plant Journal
• /
• v.16 no.3
• /
• pp.37-41
• /
• 2020

Lately old LNG carriers increased and ship price is getting down. So Interest for reuse and modification of used LNG carriers is growing. Also the needs for replacement of old power plant is increasing. Additionally eco friendly fuel such as LNG become attractive. Consequently gas power plant is getting much more popular than before. So in this research planning, we consider the floating power plant by modifying LNG carriers. This plant has the various function including storage, power plant and bunkering fuction etc. Through this multifunctional plant, we are ready for the old power plant shutdown and energy crisis in the future when we can supply the urgent mobile floating power plant quickly in time.

• Journal of Ocean Engineering and Technology
• /
• v.31 no.6
• /
• pp.379-387
• /
• 2017

In this study, a pile-guide mooring system (PGMS) was designed for an offshore liquefied natural gas bunkering terminal (LNG-BT), which is an essential infrastructure for large LNG-fuelled ships. The PGMS consisted of guide piles to restrict five motions of the floater, except for heave, as well as a seabed truss structure to support the guide piles and foundation piles to fix the system to the seabed. Singapore port was considered for a case study because it is a highly probable ports for LNG bunkering projects. The wave height, current speed, and wind speed in Singapore port were investigated to calculate the environmental loads acting on the hull and PGMS. A load and resistance factor approach was used for the structural design, and a finite element analysis was performed for design verification. The steel usage of the PGMS was analyzed and compared with the material usage of a gravity-based structure under similar LNG capacity and water depth criteria. This paper also describes the water depth limit and wave conditions of the PGMS based on estimation of the initial investment and the present value profit difference. It suggests a suitable LNG-BT support system for various design conditions.

• Journal of the Society of Naval Architects of Korea
• /
• v.59 no.5
• /
• pp.323-329
• /
• 2022

This paper suggests an example guideline of a safety zone layout for the domestic LNG Truck-To-Ship (TTS) bunkering. The safety zone is one of the controlled area in LNG bunkering and its layout is required as a fundamental safety barrier. While the international standard provides a layout methodology of the safety zone, its detail application is not user-friendly and only possible with a level of the process engineering. In the domestic case, the enforcement regulations are applied for LNG bunkering but the safety zone is not properly defined for TTS operation. Considerations are made for the intuitive approach of the safety zone layout and an example guideline is suggested for application in the domestic TTS bunkering. A technical background of the guideline is described and its applicability is demonstrated with regard to the characteristics of TTS bunkering. The findings of the study are summarized in association with a practical layout of the safety zone, contributing to the safety culture in the domestic LNG bunkering.

• Journal of the Society of Naval Architects of Korea
• /
• v.60 no.6
• /
• pp.433-440
• /
• 2023

This study aims to establish safety zones for bunkering operations of hydrogen propulsion ships in coastal areas through risk assessment and evaluate their validity. Using a 350 kW-class ferry operating in Busan Port as the subject of analysis, with quantitative risk assessment based on accident consequence and frequency analysis, along with a social risk assessment considering population density. The results of the risk assessment indicate that all scenarios were within acceptable risk criteria and ALARP region. The most critical accident scenarios involve complete hose rupture during bunkering, resulting in jet flames (Frequency: 2.76E-06, Fatalities: 9.81) and vapor cloud explosions (Frequency: 1.33E-08, Fatalities: 14.24). For the recommended safety zone criteria in the 6% hose cross-sectional area leakage scenario, It could be appropriate criteria considering overall risk level and safety zones criteria for hydrogen vehicle refueling stations. This research contributes to establishing safety zone for bunkering operations of hydrogen propulsion ships through risk assessment and provides valuable technical guidelines.