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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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Tuesday, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
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- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
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