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Wednesday, 22 February 17
TANKER MARKET INSIGHT - KATERINA RESTIS
 In 2016 a session of the IMO committee in London, set the new prerequisites effective from January 2020, which will necessitate global Sulphur content of marine fuels to be condensed from the current maximum of 3.5% to 0.5%. This decision is designed to radically reduce emissions produced by vessels using marine diesel and fuel oil and principally the levels of Sulphur oxides (SOx), nitrogen oxides (NOx) and particulate matters (PM). The shift will impose major costs for the shipping industry in search for efficient solutions. As of 2015 vessels in the SECAs areas comprising of the Baltic Sea, North Sea, North American ECA, most of the US and Canadian coast and the US Caribbean ECA, are compelled to use marine fuels with only 0.1% Sulphur content.
Nowadays, natural gas in most nations is a significant power source for residential, commercial & industrial sectors’ energy needs. Several arguments indicate that LNG utilization as transportation fuel and in particular its shipping implementation may provide a future-fit solution as it has nearly no Sulphur content (0.004%). Even though LNG requires more tank space (volumetric) compared to other transportation fuels to generate equivalent energy, is of lower cost and environmentally friendly.
Furthermore, it emits zero SOx and with the use of appropriate technology almost 90% fewer NOx. Furthermore, it is a global commodity widely available, with more than 20 countries exporting to 35 importing countries. Market penetration is increasing in areas such as Middle East, Africa, Latin America and South-East Asia. The market is currently heading into oversupply with estimates of approximately 150 million tons per annum of new export capacity due to come on line between 2015-2020, representing 50% increase over current capacity.
Lately, an increasing number of bunkering facilities is being built, while current developed infrastructure is concentrated in North West Europe like Rotterdam, Stockholm as well as the USG. Moreover, Asian ports that serve deep-sea routes are in the process of developing LNG bunkering facilities as evidenced by the world’s busiest bunker port, Singapore. The use of LNG for marine propulsion has been used for decades in the LNG carrier industry however the first LNG fueled vessel with gas engines and storage was the ferry “Glutra” and came into service in 2000 in Norway. Currently there are 97 LNG fueled vessels mainly operating in the ECAs areas of N.W. Europe and North America. Increase incentive in demand is evident from the 91 orders already placed by the end of 2016 for LNG-fueled ships.
Additionally, the new Gas4Sea partnership has taken delivery of the world’s first purpose-built LNG bunkering vessel from Hanjin Heavy Industries and Construction in South Korea. An increasing number of companies is looking for environmentally friendly supply chains in response to policies imposed. VW Group for example stated that from 2019 they will use two LNG-powered charter vessels for the transport of vehicles.
Uncertainty of global economic activity affecting shipping activity, fuel prices, environmental regulations, know-how and machine technology, costs of infrastructures and LNG availability are the key elements underlying demand that necessitates further research as the global economic outlook remains unclear. The use of alternative fuels is essential for breaking the oil dependence, improving competitiveness and reducing greenhouse gas and pollutant emissions and we expect the shipping industry to slowly but steadily move towards that going forward.
By Katerina Restis
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 24 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record ...
Friday, 24 February 17
US WEEKLY COAL OUTPUT ESTIMATED AT 16.8 MMST - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 23 February 17
ULTRA SUPRAMAX: INDONESIA TO INDIA IS GETTING AROUND $10-11K BASIS SINGAPORE DELIVERY
Supramax
The week started off quietly in the Atlantic with more activity in the Pacific basin.
According to Fearnleys weekly report, frontha ...
Tuesday, 21 February 17
INDIA'S JANUARY COAL IMPORTS DECLINE 21.7 PERCENT YEAR -ON-YEAR TO 14.31 MT - PTI
Coal imports declined by 21.7 per cent to 14.31 million tonnes in January as the power utilities did not lift much fuel due to abundant stock avail ...
Tuesday, 21 February 17
CHINESE EXPORTS SHOWED A YEAR-ON-YEAR RISE FOR THE FIRST TIME IN TEN MONTHS; S. KOREA'S EXPORTS UP FOR PAST THREE MONTHS IN A ROW - GEORGE LAZARIDIS
We have started to some sparks of life in the commodities markets these past weeks, with prices having shown a strong push during the past couple o ...
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- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
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