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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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Monday, 23 August 21
CHINESE COAL PRODUCTION RISES 4.9 PCT IN 1ST 7 MONTHS OF 2021 - NBS
Official figures demonstrated that the Chinese raw coal production surged 4.9 percent annually to 2.26 billion tonnes in the January-July period of ...
Friday, 20 August 21
ARE WE LOOKING AT THE NEXT DRY BULK SUPER CYCLE? IS IT EVEN A CYCLE? - BIMCO
Throughout the first half of the year, talk of a new dry bulk super cycle has been on many lips as commodity prices have soared to multi-year highs ...
Friday, 20 August 21
BIMCO'S SHIPPING NUMBER OF THE WEEK: CHINESE IRON ORE IMPORTS FALL TO 14-MONTH LOW IN JULY - PETER SAND
Chinese iron ore imports fell to 88.5 million tonnes in July, the lowest level since May 2020. The fall in July means that accumulated imports are ...
Friday, 20 August 21
SOARING DEMAND FOR THE WORLD’S LEAST-LIKED COMMODITY SEES THERMAL COAL PRICES JUMP 106% THIS YEAR - CNBC
Soaring electricity demand, infrastructure woes and a surge in global gas prices have triggered an extraordinary rally for the world’s least ...
Friday, 20 August 21
CHINA’S IRON ORE IMPORTS CONTRACTED YEAR-ON-YEAR BY 2% IN 2018 AND GREW YEAR-ON-YEAR BY ONLY 1% IN 2019 - COMMODORE RESEARCH
Examining the last ten years of China’s crude steel output and iron ore imports shows that China’s iron ore imports have stayed r ...
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- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
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