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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, 13 January 21
COAL TO BE BIGGEST CONTRIBUTOR TO INDIA'S $5 TRILLION ECONOMY: AMIT SHAH - BUSINESS STANDARD
The Centre on Monday awarded the letter of allocation to successful bidders of coal mines under the commercial auction held during October-November ...
Monday, 11 January 21
MUTED COAL RECOVERY IN 2021 - BALTIC EXCHANGE
Coal demand is expected to rebound in 2021
Medium-term outlook is less favourable although demand declines are expected to be subtle ...
Sunday, 10 January 21
KOREAN GENCOS INVITED BIDS FOR TOTAL 880,000 TONS OF COAL FOR MARCH 2021 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), on behalf of EWP, KOSPO, KOSEP and KOWEPO issued an international tender for total 880 ...
Friday, 08 January 21
INDIA COULD COMPETE AGAINST CHINA IN SOLAR MODULE PRODUCTION WITH THE RIGHT GOVERNMENT SUPPORT - IEEFA
The focus should be on helping manufacturers become globally competitive
Although one of the top 10 solar module producers in the world, India ...
Thursday, 07 January 21
FITCH FORECASTS DOUBLING IN ASIAN WIND, SOLAR CAPACITY BY 2029, TOPPING 1,500GW
Despite some near-term delays due to the Covid-19 pandemic, solar power and offshore wind will drive steep growth in non-hydro renewables in Asia, ...
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- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- MS Steel International - UAE
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
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