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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, 05 January 22
CHINA COAL FUTURES SURGE ON SUPPLY WORRIES AMID INDONESIA EXPORT BAN - REUTERS
China’s thermal coal futures surged by as much as 7.8per cent to kick off 2022 on concerns of supply disruptions after Indonesia, its biggest ...
Wednesday, 05 January 22
INDONESIA WARNS COAL SUPPLY CRUNCH NOT OVER AS CHINA PRICES RALLY - REUTERS
Indonesia has warned that its coal supply situation remains critical, ahead of Wednesday’s (Jan 5) review of its export ban, unnerving global ...
Tuesday, 28 December 21
INDIA'S ADANI NEARS FIRST COAL SHIPMENT FROM SHUNNED AUSTRALIAN MINE - REUTERS
India’s Adani Group ADEL.NS is preparing to ship the first coal cargo from Australia’s most controversial mine, after battling a seven- ...
Thursday, 23 December 21
COAL TO STAY AS MAJOR SOURCE OF ENERGY IN FORESEEABLE FUTURE: JOSHI - BUSINESS STANDARD
Coal will stay as a major source of energy in the foreseeable future as it is an affordable source of energy with substantial reserve, Parliament w ...
Thursday, 23 December 21
ANNUAL U.S. COAL-FIRED ELECTRICITY GENERATION WILL INCREASE FOR THE FIRST TIME SINCE 2014 - EIA
From December 20 through December 30, Today in Energy will feature some of our favorite articles from 2021. Today’s article was originally pu ...
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- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- The Treasury - Australian Government
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- White Energy Company Limited
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
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