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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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Wednesday, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
Wednesday, 10 February 21
MARKET INSIGHT - INTERMODAL
We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of ...
Tuesday, 09 February 21
SWITCHING COAL PLANTS TO PLN'S BIOMASS COFIRING PLAN IS NO MAGIC BULLET - IEEFA
Implementation risks for Indonesia PLN's switch from coal to biomass cofiring
PLN’s biomass cofiring plan will require not ...
Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
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- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
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