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, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
|
|
|
Showing 16 to 20 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
|
| |
| |
|
