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Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
 Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world are focusing on reducing climate risks, accelerate the adoption of clean energy technologies and secure the transition towards new clean energy industries, while ensuring security on energy supply. As reported, net zero carbon targets have to quickly turn into real world action in order to reach long-term climate goals, as action must start now. The shipping industry has a central role in the global supply chains with vessels on average carrying more than 80% of worldwide trade by volume. Regulators, maritime companies and financial institutions act to drive the sector towards decarbonization. The maritime industry is one of the few sectors not particularly discussed on the Paris Agreement on climate change. The industry is estimated to be responsible for approx. 3.0% of global CO2 emissions, but several scientists have projected that the sector could account for 17% of the total annual CO2 emissions by 2050.
The IMO has set a goal of decreasing the total annual greenhouse gas emissions of the maritime industry by 50% by 2050 compared to 2008. While progression steps are being ascertained still the industry is facing unique challenges as zero-carbon fuels and technologies are not yet available at the scale needed for wide market penetration, according to the ICS. As discussed, in order to create zero emissions fleets, new fuels and propulsion systems will need to be developed, advanced vessels and a new global refueling network. In order for a ship to emit zero emissions it has to be capable of operating on fuels or other forms of propulsion that do not emit carbon and greenhouse gases. The sector is exploring substitution fuels and technologies, such as batteries, sustainable bio-fuels, and green or blue hydrogen and their derivatives such as ammonia and methanol. Zero-carbon fuels alone are still far more expensive than marine bunker fuel oil, on top we have to account infrastructure CAPEX that will add to delivery prices.
It has long been wisely reasoned that natural gas may serve as a bridge fuel to a low-carbon future as being a climate-friendly substitute. Recently, LNG prices have spiked particularly as demand is accelerating amid the increase in industrial production and for electricity generation purposes as above average temperatures across the globe have forced the market into deficit. The energy complex has seen inflationary pressures over the past two months with both oil and coal prices surging and sustaining the lift in LNG prices, with Asian LNG delivered prices having risen to the highest level since January 2021, when a record cold winter lifted prices at record levels. Europe's LNG demand remains robust too, amid increased imports in order to replenish inventories. Taking the above into consideration and according to a recent Bloomberg analysis, the era of inexpensive natural gas is over, leading to a period of far more pricey energy that will create surge effects across the economies: “Natural gas was competitively priced during the last decade and latest spiked rates are observed as demand drastically outpaced new supply. It remains to be seen whether above fundamentals will influence shipowners’ decision making for LNG fueled vessels.
More than 150 companies in the maritime, energy, infrastructure and finance sectors are participating in the Getting to Zero Coalition, which is coordinated by the Global Maritime Forum. The coalition’s recent report concludes that a 5% adoption rate of zero emissions fuels will be needed by 2030 in order for shipping decarbonization to be aligned with the Paris agreement goals. The tipping point for the shipping industry would be when low-carbon technology cost declines enough to prompt its rapid adoption with positive feedback loops between different actors raising confidence, increasing demand and investment throughout the value chain.
By Katerina Restis,
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
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, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
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