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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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- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- White Energy Company Limited
- London Commodity Brokers - England
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
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