Riding the Decarbonisation Wave BHP and its LNGFuelled Vessels Shantanu Bhattacharya Flocy Joseph Mahima RaoKachroo 2023
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In the world of shipping, many of us are waiting for the end of the traditional and fossil fuel era. In the future, shipping will be carbon-neutral, green, and fully decarbonised. BHP is leading this transformation by integrating LNG fuel into its bulk carrier fleet. LNGFuelled bulk carriers are the largest and most efficient cargo ships in the world, which can carry almost twice the volume of coal, iron ore or other commodities while reducing emissions by 60% compared to traditional carriers. The company a
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BHP and its LNGFuelled Vessels Chief Executive Officer and Executive Director, BHP’s CEO and Executive Director, Mr. Dr. Bill Staniford stated “BHP’s strategy has shifted in its direction to focus on reducing greenhouse gas emissions as a key element of its strategy. This means reducing BHP’s greenhouse gas emissions from oil and gas operations, reducing emissions from its products and from its customer businesses, and reducing BHP’s impact on the environment. As a result of this shift,
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I’ve been a loyal customer of the BHP Group for more than 10 years now. It’s an esteemed company which is a leader in the global commodity and resources sector. I’ve witnessed their impressive transformation from a traditional mining and petroleum company to a sustainability leader. BHP has been at the forefront of the transition towards renewable energy with its partnership and investment in wind and solar projects. Its first-mover advantage has allowed it to maintain a competitive position in the market, especially in
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I’m not capable to see future. However, I can write about some of my experience. My country’s largest LNG Fuelled Vessel has been sailing smoothly since the first day it left the docks. My experience with this vessel has been exceptional. The vessel has performed exceptionally well, sailing at speeds of over 12 knots, with minimal fuel consumption, and an emission reduction of around 30% (in terms of CO2 emissions) compared to conventional diesel fueled vessels. This vessel has
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The COVID-19 pandemic had a huge impact on global economies, and the transportation industry suffered the most. Extra resources Countries that were once energy-rich were forced to become carbon-intensive because of high oil prices, which in turn resulted in a drop in economic growth. This trend will continue for the next decade, especially with rising oil prices, thus affecting the oil & gas, petrochemical, and chemical sectors. In the case of BHP, one of the leading global integrated energy companies, the future looks positive as they shifted
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VRIO Analysis
Decarbonisation is a buzzword in recent times, a trend that is expected to transform the entire industry. However, the shipping industry has remained an exception to this trend. Traditionally, the sector’s emission has been high, and the industry is still reliant on coal and petroleum products. However, with the shipping sector being a part of the economy, it’s imperative that the industry decarbonizes for better future and a greener tomorrow. The main driving force behind the decarbonisation wave is the Paris
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As one of the world’s biggest mining and resource companies, BHP is facing unprecedented environmental and social challenges due to its operations. To tackle this challenge, the company has initiated a decarbonisation journey which aims to reduce emissions to net zero by 2050. This article highlights the implementation of BHP’s LNG-fueled vessels for its iron ore operations. As a part of its decarbonisation efforts, BHP has already introduced a few LNG-fueled