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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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Friday, 13 August 21
INDONESIA’S COAL EXPORTS TO JAPAN DECLINED BY -26.3% YOY TO 11.9 MLN TONNES IN THE FIRST 7 MONTHS OF 2021; STILL THE SECOND LARGEST SOURCE FOR JAPAN’S COAL IMPORTS IS INDONESIA - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. Total global loadings in the 12 months of 2020 were down -12.7% year-on-yea ...
Thursday, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
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- Planning Commission, India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
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