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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 21 October 20
MARKET INSIGHT - INTERMODAL
The second wave of COVID-19 is now a reality; offices are closing again, and stricter rules and regulations are being implemented in public spaces. ...
Tuesday, 20 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.82 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.49 points Monday, up 0.82 percent week on week.
The index, released by China ...
Tuesday, 20 October 20
BIMCO 'SHIPLEASE' TERM SHEET - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The ever-growing importance of sale and leaseback transactions as an alternative to financing ships by way of loan, makes ...
Friday, 16 October 20
KOMIPO ON BEHALF OF K GENCO'S INVITED BIDS FOR TOTAL 715,000 MT MIN. 5,700 NAR COAL FOR DECEMBER
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 715,000& ...
Wednesday, 14 October 20
CHINA COKING COAL FUTURES RALLY ON REPORTED BAN ON AUSTRALIA CARGOES - REUTERS
Dalian coking coal futures rallied for a sixth straight session on Tuesday after reports surfaced that China had stopped buying coal from Australia ...
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- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
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