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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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- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- The University of Queensland
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
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