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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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Monday, 08 March 21
MARCH 2021 INDONESIA COAL PRICE REFERENCE SETTLES LOWER
COALspot.com: The Indonesia coal price reference for March 2021 settles at US$ 84.49 per ton FOB vessel.
The Indonesia coal pr ...
Saturday, 06 March 21
AUSTRALIAN COAL: SOME WEAKNESS COULD MATERIALIZE AFTER THE WINTER - ING
Newcastle coal prices remain well supported for now, however as we move out of the winter months we would expect prices to come under pressure. Mea ...
Saturday, 06 March 21
ASIA SEABORNE COAL PRICES START TO RETREAT, CHINA-AUSTRALIA DISPUTE LINGERS - REUTERS
There are signs that the price and demand surge for coal during the recent colder-than-expected winter across North Asia is starting to ease, even ...
Thursday, 04 March 21
HEAD OF JBIC SAYS THE JAPANESE BANK WILL NOT FUND NEW COAL PLANT DEVELOPMENT - NHK NEWS
The governor of the Japan Bank for International Cooperation has said that the government-owned financial institution will stop funding new coal-fi ...
Wednesday, 03 March 21
MARKET INSIGHT - INTERMODAL
Following the recent rally to multi year highs of metal-based commodities, amid an unprecedented global economic stimulus, discussions of an emergi ...
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- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Directorate General of MIneral and Coal - Indonesia
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- Antam Resourcindo - Indonesia
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- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
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- Dalmia Cement Bharat India
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- Planning Commission, India
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- Indogreen Group - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
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- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
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- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
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- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
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- Electricity Authority, New Zealand
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- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
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- Samtan Co., Ltd - South Korea
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- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
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- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
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- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
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- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- CNBM International Corporation - China
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
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- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
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- ASAPP Information Group - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
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- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
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- Ceylon Electricity Board - Sri Lanka
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