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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, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Australian Coal Association
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Planning Commission, India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
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