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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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Sunday, 11 July 21
ROBUST CHINA COAL DEMAND AMID AUSTRALIA IMPORT BAN FUELS PRICE RALLY - REUTERS
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG) ...
Saturday, 10 July 21
OVERESTIMATED LCOES OF COAL-FIRED POWER PLANTS CREATE A FINANCIAL BUBBLE - IEEFA
Massive stranded asset risk detrimentally affects the financial and power distribution
India’s future coal-fired power project pipeline ...
Friday, 09 July 21
EIA FORECASTS COAL’S GENERATION SHARE IN U.S TO RISE FROM 20% IN 2020 TO 24% THIS YEAR BUT TO FALL TO 22% NEXT YEAR
The July Short-Term Energy Outlook (STEO) of EIA remains subject to heightened levels of uncertainty related to the ongoing economic recovery from ...
Friday, 09 July 21
KOREA SOUTH-EAST POWER CO., LTD. INVITES BIDS FOR 1.86 MILLION TONS OF COAL OF 5600 & 4000 NCV COAL FOR THREE YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 280,000 – 300,000 MT of Min. ...
Friday, 09 July 21
CAN WE EXPECT AFFORDABLE POWER SUPPLY BY REPLACING COAL BASED POWER WITH LNG? - FINANCIAL EXPRESS
Bangladesh government’s recent decision to cancel the contracts for 10 coal fired power plants in late June 2021 has invited interest in the ...
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- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- PTC India Limited - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
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