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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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Thursday, 27 May 21
KOMIPO INVITED BIDS FOR 1.56 MILLION TONS OF BITUMINOUS COAL
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Thursday, 27 May 21
CHINA POWER DEMAND EXCEEDS PRE-COVID-19 LEVELS; THERMAL OUTPUT STRONG - FITCH RATINGS
Rising Consumption: Total power consumption rose by 21.2% yoy to 1,921.9GWh in 1Q21 due to the fast recovery of China’s economy, after a drop ...
Thursday, 27 May 21
CHINA'S POWER DEMAND EXCEEDS PRE-PANDEMIC LEVELS; RENEWABLES TO DRIVE DEVELOPMENT - FITCH RATINGS
China's power consumption exceeded the pre-Covid-19 levels in 1Q21 due to the country's fast economic recovery, with strong output from the ...
Wednesday, 26 May 21
THE INDONESIA COAL PRICE REFERENCE FOR MAY 2021 SETTLES AT US$ 89.74 PER TON
COALspot.com: The Indonesia coal price reference for May 2021 settles at US$ 89.74 per ton FOB vessel.
The Indonesia coal pric ...
Wednesday, 26 May 21
MARKET INSIGHT - INTERMODAL
Last year crude tankers’ newbuilding contracting activity was devastated by the economic effects of the Covid-19 pandemic and the cloud of un ...
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- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Economic Council, Georgia
- White Energy Company Limited
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Australian Coal Association
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
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