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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.
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Wednesday, 14 April 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 1.10 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.05 points Monday, down 1.10 percent week on week.
The index, released by Chi ...
Wednesday, 14 April 21
MARKET INSIGHT - INTERMODAL
After a series of months where the dry bulk sector was attracting most of the buying interest, tankers SnP activity spiked in the previous weeks. O ...
Tuesday, 13 April 21
INDONESIAN COAL PRICE REFERENCE IN APRIL UP AGAIN ON FIRM DEMAND
COALspot.com: The Indonesia coal price reference for April 2021 settles at US$ 86.68 per ton FOB vessel.
The Indonesia coal pr ...
Monday, 12 April 21
CHINA'S ECONOMIC RECOVERY PUSHES COAL MINES TO INCREASE YIELD - GLOBAL TIMES
China’s fast economic rebound from coronavirus has driven up electricity demand, leading to higher consumption of coal which is seeing rising ...
Monday, 12 April 21
GLOBAL COAL PRODUCTION EXPECTED TO RISE BY 3.5% IN 2021, SAYS GLOBALDATA
Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions obse ...
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- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
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