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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, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
Thursday, 28 October 21
CANADA BAN ON SHIPPING COAL WOULD EQUAL SCRAPPING AS MANY AS 3 MILLION CARS - IEEFA
Canada ban on shipping coal would equal scrapping as many as 3 million cars
Change in Canadian policy could have major implications ...
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- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Australian Coal Association
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
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