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