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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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Friday, 20 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 19 November 20
MARKET INSIGHT - INTERMODAL
As we are moving towards the end of the year, the overall deal landscape of the dry bulk sector corresponding to the second half of 2020 (up to dat ...
Tuesday, 17 November 20
COAL SQUEEZE INTENSIFIES - BALTIC EXCHANGE
The message from the top is clear: cut out coal. While the regulatory pressure has been evident for some time, the race to banish the black stuff s ...
Tuesday, 17 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 128.72 points Monday, up 0.35 percent week on week.
The index, released by China ...
Tuesday, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
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- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- White Energy Company Limited
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Australian Coal Association
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
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