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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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Wednesday, 13 October 21
MARKET INSIGHT - INTERMODAL
Following up on our insight on May 2021, where we discussed about the Capesize market outlook for the second half of the year, we are pleased to se ...
Wednesday, 13 October 21
FBX INDEX: THE IMPOSSIBILITY OF SHORT-TERM FORECASTING - LARS JENSEN
Will freight rates on Asia-Europe or the Transpacific reach 40.000 USD/FFE in the run-up prior to Chinese New Year 2022? Or will they start droppin ...
Wednesday, 13 October 21
CHINA FLOODS: COAL PRICE HITS FRESH HIGH AS MINES SHUT - BBC
The price of coal used in China’s power plants has surged to a new record high as another of the country’s key mining regions is hit by ...
Tuesday, 12 October 21
BUMA SIGNS CONDITIONAL AGREEMENT FOR AUSTRALIAN ASSET ACQUISITION
PT Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, through its newly incorporated Australian subsidiary, BUMA International Pty ...
Tuesday, 12 October 21
INDONESIA'S COAL-BASED POWER PLANTS ARE SUBJECT TO CARBON TAX NEXT YEAR, ELECTRICITY COSTS COULD RISE! - CNBC
The Indonesian government is planning plans to implement a carbon tax of IDR 30 per kilogram (kg) of carbon dioxide equivalent (CO2e) or equivalent ...
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- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- The University of Queensland
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
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