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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, 25 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
Monday, 25 October 21
CHINA VOWS TO SEVERELY PUNISH MARKET VIOLATIONS AMID LOW COAL FUTURES PRICES - GLOBAL TIMES
Domestic coal futures had plunged for three consecutive trading days after the government vowed to crack down on soaring prices, and China’s ...
Monday, 25 October 21
FARMERS MAY JOIN THE COAL COMMODITY MARKET TO REDUCE RISKS - GLOBAL TIMES
A recent trip to by the Global Times to East China’s Shandong Province to get a glimpse of China’s coal supply chain revealed a surpris ...
Monday, 25 October 21
CHINA COAL PRICES MARK WORST WEEK SINCE MAY ON GOVERNMENT INTERVENTION - REUTERS
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest interventio ...
Friday, 22 October 21
THE BIG PICTURE: ENERGY MARKETS - BREAK WAVE ADVISORS
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s alw ...
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- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
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