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