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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, 14 December 21
COAL LOCK-IN IN SOUTHEAST ASIA PRESENTS A CHALLENGE FOR THE ASIAN DEVELOPMENT BANK'S COAL RETIREMENT PLAN - IEEFA
In August, the Asian Development Bank (ADB) announced an ambitious plan to buy high emissions coal-fired power plants in Southeast Asia and retire ...
Saturday, 11 December 21
BUNKER BUYERS LOSE UP TO $5/MT FOR NOT COVERING ENOUGH SUPPLIERS - INTEGR8 FUELS
With the Brent price recently touching the $80 mark and before the Omicron variant concerns pushed it lower, bunker prices reached levels not seen ...
Tuesday, 07 December 21
SUPERCYCLE DEMAND: ARE WE THERE YET? - WOOD MACKENZIE
Taking young children on a long journey is fraught with challenges, not least the inevitable question a few minutes after leaving: are we there yet ...
Tuesday, 07 December 21
COAL WOULD REMAIN ENERGY LEADER FOR AT LEAST 15 YEARS - LIVEMINT
Coal India Ltd (CIL) has been in the eye of the storm after fuel stocks at coal-fuelled power plants depleted in October. Fuel stocks since are bei ...
Tuesday, 07 December 21
GLOBAL SHIPPING OUTLOOK TURNS STABLE FROM POSITIVE ON THE BACK OF PEAKING EARNINGS DURING 2021 - MOODY'S
The outlook for the global shipping industry is changed to stable from positive for the next 12 to 18 months due to demand slightly outstripping su ...
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- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- The University of Queensland
- White Energy Company Limited
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
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