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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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Tuesday, 21 February 17
CHINA SUSPENDS COAL IMPORTS FROM NORTH KOREA FROM 19 FEB
COALspot.com: China is suspended coal imports from North Korea until December 2017. China says it will suspend all imports of coal from North Korea ...
Monday, 20 February 17
OCEAN FREIGHT RATES SLIGHTLY UP WEEK OVER WEEK
COALspot.com: The Freight market was firmed up this past week. The Panamax segment was declined for the week ending 17 February 2017.
The Balt ...
Friday, 17 February 17
U.S. COAL PRODUCTION SLIPS SLIGHTLY WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million sh ...
Thursday, 16 February 17
CAPE MARKET HAVE EXPERIENCED A STRONG DOWNTURN - FEARNLEYS
Supramax
Market has shifted sides from Atlantic to Pacific, where Atlantic is now lagging behind with little action and sliding indices, notably ...
Thursday, 16 February 17
IF I PLAN TO UNDERTAKE A CHARTERPARTY WITH AN UNFAMILIAR ENTITY, WHAT STEPS CAN I TAKE TO ENSURE THE CHARTERER WILL PAY THEIR HIRE? - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Due to the difficult conditions currently existing in the shipping market, particularly in the offshore sector, Members a ...
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- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
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