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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, 03 February 21
INDONESIA TO EXPORT 395 MILLION TONS OF COAL IN 2021 - ESDM
Data from the Ministry of Energy and Mineral Resources shows that, Indonesia is planning to produce 550 million Ton of coal in 2021 and as of t ...
Wednesday, 03 February 21
MARKET INSIGHT - INTERMODAL
"2020 the year from hell for the entire world, had everything for shipowners. The introduction of the sulphur cap and VLSFO, a Pandemic outbre ...
Tuesday, 02 February 21
WILL THE ELECTRONIC B/L BE FULLY IMPLEMENTED? FIVE POINTS TO CONSIDER - MOL
KNOWLEDGE TO ELEVATE
The trend towards digitization of Bills of Lading (B/L) has begun to attract attention in the trade and shipping industrie ...
Monday, 01 February 21
A 56,000-DWT OPEN MANILA WAS FIXED FOR A TRIP VIA INDONESIA REDELIVERY CHINA AT $11,500 - THE BALTIC BRIEFING
Capesize
The Capesize routes endured a week of slippage on rates, bringing the market back down to levels seen at the beginning of the month. D ...
Monday, 01 February 21
PAKISTAN: COAL DEMAND EXPECTED TO SPIKE IN 2021 - DAWN
Coal demand is expected to remain upbeat in 2021 as more coal-fired and captive power plants are coming up in the current year.
Acco ...
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- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
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