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Wednesday, 25 November 20
MARKET INSIGHT - INTERMODAL
 Over 90% of the world’s goods are transported by sea. LPG is a clean, energy efficient and portable fuel that is being marketed at an affordable price, while it is promptly available across the globe. LPG is mainly sourced from natural gas and oil production operations, but as new technologies and techniques grow, it can be further produced from renewable sources. Currently, LPG is already a preferred marine fuel solution for LPG carriers. Furthermore, the World LPG Association has stated that LPG as a marine propulsion fuel will play a leading role towards IMO's 2050 regulations, which will require further reduction on greenhouse gas emissions by at least 50% until 2050, compared to 2008. As stated by the WLPGA association with the marine industry pressured to comply with IMO 2020 by reducing emissions, LPG can make significant inroads into the marine fuel market. Hence, LPG propulsion, starting with the LPG carrier sector, needs to move beyond a niche fuel option, to gain the acceptance in the wider shipping sector that it deserves.
The current demanding environmental regulations and large capital investment required to set up new facilities, have restrained the market growth. Advancements in technologies, such as new alternative fuel propulsion engine technologies, are expected to boost market growth. LPG as a propulsion fuel is today almost absent from the shipping sector and especially from commercial vessels, where the vast majority of engines are diesel, and alternative fuels solutions such as LNG continue their growth. However, regarding larger commercial and passenger ships, LPG is starting to get some attention as it stands as a likely alternative among the other gaseous fuels. Ship operators, with traditional propulsion plants and fuels, mainly couldn’t meet the new 2020 regulations without installing expensive exhaust equipment or switching to low‐sulphur diesel, low‐sulphur residual, or other alternative fuels, all of which have an impact on profit. As attention turns to an array of possible solutions, heavy-sulphur fuel oil with scrubbers, distillates, blended fuels and LNG, so as to comply with the IMO's 0.5% global sulphur cap regulation, LPG may gain more acceptance as a viable solution, as compared to LNG, which is more problematic and expensive to implement.
As reported LPG's growth will be fast-tracked, since the infrastructure for distribution and bunkering is already largely available to serve potential marine market demand. There are more than 1,000 LPG storage facilities worldwide that can be used for LPG bunkering, and more than 700 small size LPG carriers, that can be used for ship-to-ship bunkering. It is worth to mention that in 2018 Dorian LPG entered into a MOU with Hyundai Global Service to undertake research and engineering studies to upgrade the main engines of up to 10 of the Company's VLGCs to dual fuel technology utilizing LPG as fuel in anticipation of environmental regulations. LPG supply surplus is an additional advantage with production excess ranging from 15 to 27 ΜΤ per year, which are either used or “lost”. Reduce LPG prices (comparatively to LNG) driven by the shale gas revolution is also an important driver for market entry.
On the other hand, the use of LPG as a marine fuel faces challenges that need to be defeated such as the investment required by ship owners and fleet operators and the need for LPG to be on a level playing field with other alternative fuels. Also, the prerequisite of technology development of new engines together with the necessity of commercialization of these new engines.
Last but not least, shipbuilders are already considering vessel designs that use LPG as propulsion fuel. It can be used in all sizes of vessels from the largest ocean going ships, down to the smaller boats with inboard or outboard engines. It may play a leading role in this changing environment and re-establish its position, as an effective alternative clean marine fuel. Coordinated action from all related stakeholders is key to address the identified specific issues that hinder development and release the market potential.
By Katerina Restis
Tanker Chartering
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.
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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
...
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- Bangladesh Power Developement Board
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Anglo American - United Kingdom
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
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