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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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Friday, 04 September 20
KOMIPO INVITED BIDS FOR AUSTRALIAN MIN 5,700 NCV COAL FOR NOVEMBER
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 260,000 MT Min.5,700 kcal/kg NCV coal November, 2020 loading. Acc ...
Thursday, 03 September 20
BRINGING SERVICES OF FTCCI CLOSER TO THE EXPORTERS AT GMR AIR CARGO COMPLEX AT SHAMSHABAD
Press Release: “FTCCI Trade Facilitation Services at your doorstep now” says J.S. Chandrashekar, IRS., Principal Commissioner of Custom ...
Thursday, 03 September 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 02 September 20
COAL PRODUCTION FALLS 7% IN APR-AUG; OFF TAKE DIPS 13.4% - FINANCIAL EXPRESS
In the month of August coal off take also increased 9.3% y-o-y to 44.34 MT as compared with 40.57 MT in the same period last year.
C ...
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 w ...
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- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Planning Commission, India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- The University of Queensland
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- White Energy Company Limited
- GMR Energy Limited - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
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