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