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