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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, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
...
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- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
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