Study on the impact of mass flowmeters on the future of the world's top bunkering port ‐ Singapore
To maintain its position as the world’s premier bunkering hub, Singapore is harnessing technology to consistently improve present standards and bunkering procedures. The mandate of the Coriolis Mass Flowmeter (MFM) reveals Singapore’s commitment towards embracing technology to achieve higher efficie...
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| Format: | Final Year Project (FYP) |
| Language: | English |
| Published: |
2017
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| Online Access: | http://hdl.handle.net/10356/73006 |
| _version_ | 1811692240398974976 |
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| author | Lian, Jaslyn Xue Ting |
| author2 | Kenneth Tan Siah-Ann |
| author_facet | Kenneth Tan Siah-Ann Lian, Jaslyn Xue Ting |
| author_sort | Lian, Jaslyn Xue Ting |
| collection | NTU |
| description | To maintain its position as the world’s premier bunkering hub, Singapore is harnessing technology to consistently improve present standards and bunkering procedures. The mandate of the Coriolis Mass Flowmeter (MFM) reveals Singapore’s commitment towards embracing technology to achieve higher efficiency in bunkering operations and transparency in the bunkering industry. In mandating the MFM for all marine fuel oil deliveries and establishing standards such as Singapore Standard 600 and Technical Reference 48, it highlights Singapore’s advancement as a bunkering port. This first mover advantage sustains Singapore’s bunkering port competitiveness. This study will be structured in two parts: The first paper investigates the operational feasibility of the MFM through analysis provided by industry experts. In addition, operational efficiency in terms of time and cost savings will be analysed. The number of disputes were tracked to determine the effectiveness of MFM. From our research, different stakeholders unanimously agreed on how the MFM will be beneficial to the competitiveness of Singapore’s bunkering port. However, each expert offered differing view in terms of the benefits brought about by MFM. Stakeholders also suggested the consideration of other factors in working alongside MFM to reap greater benefits. The second paper focuses on the effects to bunker prices and volume and its resulting trend in the Singapore’s bunkering industry. Unfavourable local prices movement, coupled with increased competitiveness in regional ports had led to the reduction of bunker calls in Singapore. This gave rise to the trend of bunker suppliers and shipowners packaging their bunkers stems to enjoy lower rates. Fierce competition among the local surveyors and suppliers also made it difficult for smaller players to survive. Based on the current trends, predictions on the future market outlook of the bunkering industry and stakeholders were made. The MFM had, in one way or another, impacted the Singapore’s bunkering scene. This report can serve as a useful instrument for all maritime related businesses to consider before formulating their necessary strategy. |
| first_indexed | 2024-10-01T06:32:38Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/73006 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T06:32:38Z |
| publishDate | 2017 |
| record_format | dspace |
| spelling | ntu-10356/730062023-03-03T17:20:11Z Study on the impact of mass flowmeters on the future of the world's top bunkering port ‐ Singapore Lian, Jaslyn Xue Ting Kenneth Tan Siah-Ann School of Civil and Environmental Engineering DRNTU::Engineering::Maritime studies To maintain its position as the world’s premier bunkering hub, Singapore is harnessing technology to consistently improve present standards and bunkering procedures. The mandate of the Coriolis Mass Flowmeter (MFM) reveals Singapore’s commitment towards embracing technology to achieve higher efficiency in bunkering operations and transparency in the bunkering industry. In mandating the MFM for all marine fuel oil deliveries and establishing standards such as Singapore Standard 600 and Technical Reference 48, it highlights Singapore’s advancement as a bunkering port. This first mover advantage sustains Singapore’s bunkering port competitiveness. This study will be structured in two parts: The first paper investigates the operational feasibility of the MFM through analysis provided by industry experts. In addition, operational efficiency in terms of time and cost savings will be analysed. The number of disputes were tracked to determine the effectiveness of MFM. From our research, different stakeholders unanimously agreed on how the MFM will be beneficial to the competitiveness of Singapore’s bunkering port. However, each expert offered differing view in terms of the benefits brought about by MFM. Stakeholders also suggested the consideration of other factors in working alongside MFM to reap greater benefits. The second paper focuses on the effects to bunker prices and volume and its resulting trend in the Singapore’s bunkering industry. Unfavourable local prices movement, coupled with increased competitiveness in regional ports had led to the reduction of bunker calls in Singapore. This gave rise to the trend of bunker suppliers and shipowners packaging their bunkers stems to enjoy lower rates. Fierce competition among the local surveyors and suppliers also made it difficult for smaller players to survive. Based on the current trends, predictions on the future market outlook of the bunkering industry and stakeholders were made. The MFM had, in one way or another, impacted the Singapore’s bunkering scene. This report can serve as a useful instrument for all maritime related businesses to consider before formulating their necessary strategy. Bachelor of Science (Maritime Studies) 2017-12-19T04:12:03Z 2017-12-19T04:12:03Z 2017 Final Year Project (FYP) http://hdl.handle.net/10356/73006 en Nanyang Technological University 50 p. application/pdf |
| spellingShingle | DRNTU::Engineering::Maritime studies Lian, Jaslyn Xue Ting Study on the impact of mass flowmeters on the future of the world's top bunkering port ‐ Singapore |
| title | Study on the impact of mass flowmeters on the future of the world's top bunkering port ‐ Singapore |
| title_full | Study on the impact of mass flowmeters on the future of the world's top bunkering port ‐ Singapore |
| title_fullStr | Study on the impact of mass flowmeters on the future of the world's top bunkering port ‐ Singapore |
| title_full_unstemmed | Study on the impact of mass flowmeters on the future of the world's top bunkering port ‐ Singapore |
| title_short | Study on the impact of mass flowmeters on the future of the world's top bunkering port ‐ Singapore |
| title_sort | study on the impact of mass flowmeters on the future of the world s top bunkering port singapore |
| topic | DRNTU::Engineering::Maritime studies |
| url | http://hdl.handle.net/10356/73006 |
| work_keys_str_mv | AT lianjaslynxueting studyontheimpactofmassflowmetersonthefutureoftheworldstopbunkeringportsingapore |