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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, 03 February 17
U.S. WEEKLY COAL PRODUCTION DECLINED 3.9% W/W; ROSE 17.7% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 03 February 17
US - EXECUTIVE ORDER ON IMMIGRATION AFFECTS VESSEL CREWS - GARD
From 27 January 2017, crew members carrying Iraqi, Syrian, Sudanese, Iranian, Somalian, Libyan or Yemeni passports are temporarily barred from ente ...
Wednesday, 01 February 17
MARKET INSIGHT - PANOS TSILINGIRIS
The recent placement of LOIs for 208kdwt Newcastlemax Newbuildings at $38.5m at Private Chinese Yard identifies with the modern history low for dry ...
Tuesday, 31 January 17
A CASE OF NEW YEAR BLUES FOR THE FAR EAST? - GEORGE LAZARIDIS
Unlike the typical lull in the market that we note during the period just prior to the Chinese New Year, 2017 has proved to be fairly m ...
Monday, 30 January 17
DUE TO LUNAR YEAR HOLIDAYS, THE FREIGHT MARKET STAYED WEAK
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was down in all segments this past week.
The Baltic Exchange, tra ...
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- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- The University of Queensland
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- White Energy Company Limited
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
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