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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, 08 March 22
RUSSIA-UKRAINE CONFLICT ADDS IMPETUS TO ASIA'S ENERGY TRANSITION - IEEFA
Clean energy alternatives are a crucial hedge against future disruptions in global commodity markets
Russia’s invasion of Ukra ...
Tuesday, 08 March 22
THE HIGH COST OF INDONESIA’S DOWNSTREAM COAL PROJECTS IS UNDERESTIMATED - IEEFA
Three Indonesian ministries have come up with a DME purchase price of US$378/tonne fixed for 20 years compared to IEEFA’s US$601/tonne estima ...
Wednesday, 02 March 22
SHIPPING MARKET INSIGHT - INTERMODAL
The escalating confrontation between Russia and Ukraine has the potential to disrupt global order and set the world back a few decades. While count ...
Tuesday, 22 February 22
THE DRY BULK MARKET HAS MOVED ON A POSITIVE TRACK - ALLIED
The dry bulk market has moved on a positive track as of the past couple of weeks or so. Following the typical softening in freight conditions durin ...
Tuesday, 22 February 22
CHINA'S DAILY OUTPUT OF COAL REBOUNDS TO OVER 12 MLN TONNES - REUTERS
China’s coal output returned to more than 12 million tonnes per day as of Feb. 20, the country’s state planner said on Monday, a level ...
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- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
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