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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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Thursday, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
The LNG market started 2021 on a high note with Asian spot prices crossing $30 per MMBtu while LNG shipping rates recorded a high $350k per day due ...
Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
Despite the moderate rebound in temperatures across most regions of China after late December’s deep-freeze, thermal coal prices in the count ...
Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
...
Wednesday, 20 January 21
MARKET INSIGHT - INTERMODAL
While 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even s ...
Saturday, 16 January 21
SEABORNE TRADE IN STEAM COAL DECREASED BY 11.6% FROM 937 MILLION TONNES IN 2019 TO 828 MILLION TONNES IN 2020 - COAL IMPORTERS ASSOCIATION, GERMANY
According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), global hard coal production dec ...
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- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Minerals Council of Australia
- Parliament of New Zealand
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
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