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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, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
Since the Covid-19 outbreak, governments and central banks around the globe have been using their ammunition and stimulus packages to keep their ec ...
Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
Accordi ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
Tuesday, 18 August 20
BLACKBALLED: WILL COAL BOUNCE BACK FROM SLUMP OR IS IT TERMINAL? - SYDNEY MORNING HERALD
Even by the standards of this miserable year, 2020 has been a shocker for the global coal industry.
As the lockdown kicked in demand ...
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- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
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