We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 02 September 20
MARKET INSIGHT - INTERMODAL
 The imminent global shift towards eco-friendliness has caused divide among the shipping community because there is no outlined, clear-cut way via which shipowners can start approaching the future IMO targets. In 2018, the Marine Environmental Protection Committee adopted a greenhouse gas (GHG) emissions reduction strategy entailing (among others): reduction of CO2 emissions by at least 40% by 2030 and by at least 50% by 2050, compared to 2008 levels. Earlier this month, the 4th IMO GHG study forecasted that shipping emissions are due to increase by approximately 50% till 2050! This will undoubtedly speed up the need for effective GHG mitigation techniques in the maritime industry. It can be argued that realistic attainment of the IMO 2050 target will likely need to encompass a combination of market-based, technological, logistical and ship finance measures. Propulsion methods such as LNG and ammonia currently offer high yet expensive CO2 mitigation potentials. On the other hand, a bunker levy could offer a directly implementable and R&D cost-free approach towards the IMO targets.
A bunker levy may be implemented by a direct carbon tax or an emission trading scheme (ETS). The latter is less desirable since it can only absorb (40-75)% of emissions captured by a current respective bunker levy. Carbon neutral fuels would set a zero-levy baseline; the levy could be increased with increasing carbon footprint of fuels. This method would require a tax per ton of CO2 ($/CO2) emission equivalent (as an industry benchmark). The three current levy implementation strategies proposed in 2019 by the Technical University of Denmark led by Dr. Harilaos Psaraftis include low, medium and high levy intensity strategies.
A horizontal IMO-imposed levy could be enacted on a gradual basis starting from 2023-24 to account for the current newbuilding orders placed. Current IFO price is at around $280/ton, therefore a carbon levy of $75/ton (even at a [15-25]% initial implementation) would increase fuel costs by approximately [5-7]%. Alternatively, a greater than 70% levy imposition by 2030 could be overly aggressive as it would require the timely development of GHG reduction technologies to avoid the shifting of costs from shipowners to end consumers. This is because total annual costs to the shipping industry would exceed $65 billion (computed based on BP’s Statistical Energy Review & Outlook, 2019). The revenue stream distribution of the carbon levy would have to be carefully allocated by the IMO. Arguably, a significant proportion of the funds would have to be used to finance greener shipbuilding methods (inclusive of R&D required) and end-products (vessels). The policy could also incentivize investment in eco-friendly vessel newbuildings by providing lower carbon taxation rates on vessels with better Energy Efficiency Design Indices (EEDIs).
In conclusion, an industry-wide carbon levy may be an efficient approach towards carbon neutrality in shipping due to its direct implement-ability and cost-effectiveness. Regardless of the method(s) employed, successful and feasible GHG mitigation would need to impact all shipowners fairly; this could be accomplished by accurate assessment of each vessel’s carbon footprint. Achieving the IMO 2050 target will require sound collaboration among regulators, industry players and research and financial institutions which could in turn result in the much anticipated and needed re-designing of the international seaborne landscape.
By Dionysis Kourouniotis
Research & Valuations Department
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 21 December 20
COAL'S PARTIAL RECOVERY IS SET TO FADE AFTER 2021 - IEA
Global coal consumption is estimated to have fallen by 7%, or over 500 million tonnes, between 2018 in 2020. A decline of this size over a two-year ...
Monday, 21 December 20
A REBOUND IN GLOBAL COAL DEMAND IN 2021 IS SET TO BE SHORT-LIVED, BUT NO IMMEDIATE DECLINE IN SIGHT - IEA
After a major drop in recent years, global coal demand is forecast to rise by 2.6% in 2021 before flattening out to 2025
A global ec ...
Friday, 18 December 20
AUSTRALIA PM WARNS OF ‘LOSE-LOSE’ IN ANY CHINA COAL SHIFT - REUTERS
Australian Prime Minister Scott Morrison said any shift by China away from importing high quality Australian coal would be a “lose-lose&rdquo ...
Friday, 18 December 20
BIG OIL AND COAL EXPORTERS FACE RECKONING AS PARIS AGREEMENT TURNS FIVE - CNA
On Dec 12, more than 70 global leaders came together at the UN’s Climate Ambition Summit, marking the fifth anniversary of the Paris Agreemen ...
Friday, 18 December 20
SOUTH AFRICAN COAL EXPORTERS LARGELY DEPENDENT ON THE ASIAN MARKETS - BANCHERO COSTA
South Africa is the fourth largest exporter of coal in the world, after Australia, Indonesia and Russia. In calendar 2019 the country exported a to ...
|
|
|
Showing 696 to 700 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
|
| |
| |
|
