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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, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
That’s what’s expected to happen to Australia’s economy “when” China st ...
Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
Thursday, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...
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- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
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