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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, 06 January 21
INDONESIA EXCEEDS COAL PRODUCTION TARGET IN 2020
Indonesian coal production reached 557.54 Million Tons in 2020 1.37% higher than of last year’s total target of 550.00 Million Tons, accordin ...
Wednesday, 06 January 21
CHINESE CITIES REPORTEDLY GO DARK AS COUNTRY FACES SHORTAGE OF COAL, A MAJOR AUSTRALIAN EXPORT - CNBC
Several major Chinese cities have reportedly gone dark as authorities limit power usage, citing a shortage of coal.
Analysts said pr ...
Tuesday, 05 January 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP - XINHUA
China Taiyuan coal transaction price index stood at 136 points Monday, up 0.91 percent week on week.
The index, released by China Ta ...
Tuesday, 05 January 21
THE INDONESIA COAL PRICE REFERENCE SOARS TO HIGHEST ONE-MONTH INCREASE SINCE DECEMBER 2016
COALspot.com: The Indonesia coal price reference for January 2021 settles above $75 for the first time since July 2019 and to highest one-month inc ...
Monday, 04 January 21
U.S. RENEWABLE ENERGY CONSUMPTION SURPASSES COAL FOR THE FIRST TIME IN OVER 130 YEARS - EIA
In 2019, U.S. annual energy consumption from renewable sources exceeded coal consumption for the first time since before 1885, according to the U.S ...
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- Bharathi Cement Corporation - India
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- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
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- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
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- SMC Global Power, Philippines
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- Tata Chemicals Ltd - India
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- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
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- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Planning Commission, India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
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- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
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- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
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- The State Trading Corporation of India Ltd
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- Africa Commodities Group - South Africa
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- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
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