Sea Technology

NOV 2018

The industry's recognized authority for design, engineering and application of equipment and services in the global ocean community

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Page 9 of 52 November 2018 | ST 9 soundings State-of-the-art Motion & Navigation Solution Navsight Marine Solution Qinertia The Next Generation INS/GNSS Post-processing Software Courtesy of Cadden Making Hydrographers' Tasks Easier HYPACK 19 Booth #25 The Maritime Forecast predicts a 32 percent rise in seaborne trade measured in tonne-miles for 2016 to 2030, but only 5 percent growth over the period 2030 to 2050. "Decarbonization will be one of the megatrends that will shape the maritime industry over the next decades, especially in light of the new IMO greenhouse gas strategy," said Knut Ørbeck-Nilssen of DNV GL - Maritime. )) ROV Market Forecast Shows Recovery in Demand. Westwood's World ROV Operations Market Forecast states that the market for work-class ROVs (WROVs) is fundamentally tied to the offshore oil and gas sector, which is exiting a cyclical downturn and now entering a period of recovery. Cost efficiency remains critical and drives the need for modern systems that can maximize uptime. Demand for both traditional oil and gas applications and new offshore support roles will support a recovery in demand over the 2019 to 2023 forecast. Westwood estimates 2017 global utilization reached a low of 32 percent, down from 55 percent in 2014. Over the forecast, the oversupply situation will ease, with utilization levels expected to return to 50 percent by 2023. )) Inaugural Blockchain Bunker Delivery, Transaction. GoodFuels Marine and Blockchain Labs for Open Collab- oration (BLOC) have successfully completed the world's first bunker delivery and transaction using blockchain technology. Unlike traditional bunker delivery notes (BDN), a paper document still widely used in the industry, blockchain—a decentralized, distributed and public digital ledger—provides end-to-end traceability of marine bun- kering transactions from storage to the barge or jetty and on to the vessel's fuel tank, thereby providing assurance to shipowners, shippers and charterers. )) ExxonMobil Participates in Climate Change Risk Mitigation. ExxonMobil will join the Oil and Gas Climate Initia- tive, representing 13 of the world's largest oil and gas producers working collaboratively to mitigate the risks of cli- mate change. The CEO-led organization focuses on areas including carbon capture and storage, methane emissions reductions and energy and transportation efficiency. ExxonMobil has a controversial history of climate change denial but, earlier this year, announced initiatives to lower greenhouse gas emissions related to its operations by 2020. ST

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