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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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Thursday, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
Sunday, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
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- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
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