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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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Tuesday, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Australian Coal Association
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
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