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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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Friday, 15 October 21
GLOBAL STEEL DEMAND GROWTH DOWNGRADED FOR 2021 DUE TO CHINA - WORLD STEEL ASSOCIATION
The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that ste ...
Thursday, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten ...
Thursday, 14 October 21
EIA FORECASTS U.S. COAL PRODUCTION TOTALS 588 MMST IN 2021, UP 53 MMST YOY
U.S. coal production in EIA's forecasts totals 588 million short tons (MMst) in 2021, 53 MMst more than in 2020.
According ...
Wednesday, 13 October 21
COAL PRICES ARE ROARING BACK AMID A GLOBAL ENERGY CRUNCH - SYDNEY MORNING HERALD
Soaring coal prices have placed Australia’s mining and energy exports on track to reach a record $349 billion this year evenas the value of t ...
Wednesday, 13 October 21
CHINA ISN'T THE ONLY HUGE ASIAN ECONOMY WITH A COAL SHORTAGE NOW - CNBC
China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis.
Mos ...
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- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- The University of Queensland
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- White Energy Company Limited
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
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