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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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- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
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