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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, 20 October 21
CHINA COAL HITS RECORD HIGH AMID TIGHT SUPPLIES - REUTERS
China coal prices hit a record high on Tuesday buoyed by a widening power crunch and cold weather despite Beijing’s efforts to bolster supply ...
Wednesday, 20 October 21
MARKET INSIGHT - INTERMODAL
IMO 2020, Ballast Water Treatment regulations, Green Recycling, GHG emissions, EEXI, CII, ETS, Fit for 55, Carbon price/levy, the Poseidon Principl ...
Tuesday, 19 October 21
SPONGE IRON SECTOR MIGHT REPORT NEGATIVE GROWTH DUE TO COAL CRISIS: SIMA - PTI
The domestic sponge iron industry might report a negative growth in the ongoing December quarter “if the shortage of coal is allowed to conti ...
Tuesday, 19 October 21
COAL INDIA, THE FALL GUY FOR POWER CRISIS - INDIA EXPRESS
The post-Covid economic recovery has led to a major increase in the demand for power, both in India and globally. In India, coal-based power plants ...
Saturday, 16 October 21
SOLAR INSTALLATION SURGE PUTS INDIA ON TRACK TO CAP COAL-FIRED POWER AS EARLY AS 2024 - IEEFA
Recent increase in solar power installations could push coal to peak sooner than expected
If India keeps installing solar capacity a ...
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- Tamil Nadu electricity Board
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
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