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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, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
Wednesday, 25 November 20
MARKET INSIGHT - INTERMODAL
Over 90% of the world’s goods are transported by sea. LPG is a clean, energy efficient and portable fuel that is being marketed at an afforda ...
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- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
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