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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, 07 October 20
MARKET INSIGHT - INTERMODAL
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Tuesday, 06 October 20
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Friday, 02 October 20
THE INDONESIA COAL PRICE REFERENCE RISE AFTER HISTORIC CRASH TO US$ 49.42
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Friday, 02 October 20
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Wednesday, 30 September 20
MARKET INSIGHT - INTERMODAL
Spot rates for Capesize bulk carriers received a significant boost last week, however, there are certain reservations in the market regarding the p ...
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- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
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