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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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Monday, 04 January 21
BLISS FOR SHIPOWNERS! DAMAGES MAY BE CLAIMED IN ADDITION TO DEMURRAGE FOR VOYAGE CHARTERPARTY DELAY - WFW
KNOWLEDGE TO ELEVATE
In a significant decision for the maritime sector, The Eternal Bliss[1], the English Commercial Court has resol ...
Sunday, 03 January 21
INDIA: COMMERCE MINISTRY LAUNCHES COAL IMPORT MONITORING SYSTEM - PTI
CIMS shall require importers to submit advance information in an online system for imports of items and obtain an automatic registration number by ...
Wednesday, 30 December 20
A LOOK BACK INTO 2020: THE HEADWINDS, THE TAILWINDS AND EVERYTHING IN BETWEEN - SIGNAL
There is no doubt that 2020 has been a turbulent year for commercial shipping. The coronavirus pandemic has shaken the global maritime transport. T ...
Tuesday, 29 December 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.66 PCT - XINHUA
China Taiyuan coal transaction price index stood at 134.78 points Monday, up 0.66 percent week on week.
The index, released by China ...
Tuesday, 29 December 20
CORROSION-RESISTANT STEELS FOR CARGO OIL TANKS - DNV GL
KNOWLEDGE TO ELEVATE
Crude oil is a complex mixture of substances at varying ratios and in most cases contains at least some salt water. ...
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- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
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