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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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Saturday, 16 October 21
DESPITE HIGHER COAL PRICES, U.S. COAL RECOVERY LOOKS WEAK BY MOST MEASURES - IEEFA
U.S. coal sector is locked into a long-term sectoral decline
Coal prices have surged to the highest level in years in the U.S., and have soare ...
Saturday, 16 October 21
COAL IS 'KING' AS GAS PRICES SOAR, TOTAL CEO SAYS - AND IT’S BACKFIRING ON CLEANER ENERGY GOALS - CNBC
Surging natural gas prices have led to a jump in coal use, with plants in Europe and Asia firing back up as temperatures decline and the world grap ...
Saturday, 16 October 21
VIETNAM'S COAL-FIRED POWER MAY DOUBLE BY 2030 UNDER DRAFT ENERGY PLAN - REUTERS
Vietnam may double the amount of coal-fired electric generation it installs by 2030 under a draft power development plan submitted to the prime min ...
Friday, 15 October 21
AUSTRALIA'S WHITEHAVEN EXPECTS TO BE DEBT-FREE NEXT YEAR AS COAL PRICES SOAR - REUTERS
Australia’s Whitehaven Coal WHC.AX said on Thursday it expects to be debt-free by early 2022, as thermal coal prices surge to record highs on ...
Friday, 15 October 21
WINTER CHILL KEEPS CHINA'S COAL PRICES HIGH, POWER CRUNCH STOKES INFLATION - REUTERS
China coal prices held near record highs on Thursday as cold weather swept into the country’s north and power plants stocked up on the fuel t ...
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- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- The University of Queensland
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Parliament of New Zealand
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