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Wednesday, 27 January 21
MARKET INSIGHT - INTERMODAL
 As we have entered the era off renewable energies, all industries globally give max effort to minimize their carbon footprint and consequently their emissions, so as the shipping industry. The IMO has set some goals regarding the decarbonization of the industry; the most challenging is to start replacing current marine fuels with greener, more efficient and eventually by 2050 eliminate the Sox and NOx along with GHG emissions.
The first stage of the plan was to cut down the Sulphur content of fuel oil to below 0.5%. Owners had the option to install scrubbers or from 1.1.2020 they had to comply and use only VLSFO. A year later it appears that Owners/Physical suppliers and Refineries were perfectly aligned to provide required quantities of VLSFO available almost everywhere in the world without disrupting the chain of global trade, thus proved from the fact that the spread between LSMGO and VLSFO was considerably small from the first few months.
Moving forward to cleaner, greener and more efficient marine fuels we identify three different pathways, 1) light gas, 2)Heavy gas and alcohol & 3) Biofuel. Due to current limitations on technology, ship designs and lack of expertise, it is anticipated to have petroleum-based fuels till 2050 at a market share of almost 40%.
Light Gas – LNG is cryogenic liquid that needs to be cooled and can be stored under ambient pressure, it is slowly but steadily increasing and is projected to have tripled to about 3000 units by 2030. Issues the industry needs to cope with are that not all ports have established local regulations and all necessary equipment/expertise to handle LNG, which actually limits the availability of the fuel.
Heavy gas and alcohol – LPG, is mainly consisted by propane and butane with small fractions of propylene Its available in large and scale and its economically attractive, worth to mention that it’s a liquid with very low handling requirements. In case of any leakage, it’s not harmful to soil and water. Alcohol, Methanol is attractive as marine fuel as its liquid in ambient conditions and simplifies the storage on board – it doesn’t not contain sulfur and little modification is required to engine and fuel supply system compared to LNG. Main issue that arises is the low energy density that keeps it less attractive for deep sea vessel, as it required 2-3 times higher frequency off bunkering than fossil fuels.
Biofuels – are produced by biomass, plants, waste oils and agricultural waste. Yield from the catalytic process of biomass has properties comparable to diesel oil and require minimum to no change to marine engines or their fuel delivery systems. The most usual component of biodiesel is fame (fatty acid methyl ester), widely provided blend of biodiesel consists of 7% of fame, but Owners / Engine manufacturers are currently experimenting with richer blends that vary from 20% up to even 100% of fame.
Looking further ahead Ammonia is an option as a zero-carbon and sulfur marine fuel if produced renewably and can contribute to reduction of GHG emissions. Its physical and chemical characteristics make it a suitable marine fuel as it’s a component used in industrial and agricultural makes it affordable and logistically attractive. It needs to be kept under pressure, but it can stay liquid in ambient temperatures. Specific modifications are required for ships that will use ammonia for propulsion as its lower energy density requires more quantity of fuel.
Recently Furetank Rederi had delivered the 7th ship out of a series of 8 that will be dual fuelled; vessel will run on LBG (Liquefied biogas) and LNG. The specific unit is the first one to perform discharge operation by using only electricity from shore. In addition, it is estimated that the ship will have 55% lower emissions of CO2, 86% of Nitrogen oxide, 99% of Sulphur oxide, and 99% of particles. Avin International has placed their first Suezmax order that will be ammonia ready.
It is becoming more and more apparent that owners have showed their intentions to minimize their emissions by experimenting with biodiesel mixtures, placing LNG/Ammonia ready new buildings.
By Dimitris Kourtesis
Tanker Chartering Broker
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Saturday, 26 June 21
KOSPO INVITED BIDS FOR 480,000 MT OF COAL PER ANNUM
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 480,000 MT of NCV 1 Min. 5,600 (Spec 1) /Min. 5,0 ...
Thursday, 24 June 21
FEBRUARY'S INCREASE IN COAL-FIRED ELECTRIC GENERATION REDUCED U.S. COAL STOCKPILES - EIA
Coal stockpiles at U.S. power plants decreased significantly from December 2020 to February 2021, including a draw of nearly 16 million tons in Feb ...
Wednesday, 23 June 21
MARKET INSIGHT - INTERMODAL
The first half of 2021 has brought a very sharp and continued recovery in the dry bulk market and while many where expecting a relatively strong ma ...
Thursday, 17 June 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR GLOBAL SEABORNE COAL TRADE; CHINA'S COAL IMPORTS - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade.
Total global loadings in the 12 months of 2020 were down -12 ...
Thursday, 17 June 21
FITCH RATINGS RAISES SHORT-TERM OIL AND GAS PRICE ASSUMPTIONS
Fitch Ratings has increased its 2021 and 2022 oil price assumptions for the Brent and West Texas Intermediate (WTI) benchmarks due to stronger year ...
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- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
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- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
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- Electricity Generating Authority of Thailand
- Australian Coal Association
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
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- Wood Mackenzie - Singapore
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- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
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- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Economic Council, Georgia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- GMR Energy Limited - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
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