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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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Thursday, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, ...
Wednesday, 22 September 21
MARKET INSIGHT - INTERMODAL
The unfolding last week of a trilateral defence pact between the United States, Australia, the United Kingdom (AUKUS) envisages a wide range of col ...
Tuesday, 21 September 21
CHINESE COAL IMPORTS FROM AUSTRALIA DROP 98.6% AS RESTRICTIONS BITE - BIMCO
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian c ...
Tuesday, 21 September 21
CHINA'S COAL OUTPUT RESUMES GROWTH IN AUGUST - XINHUA
China’s raw coal output rose 0.8 percent year on year to 340 million tonnes last month, official data showed.
The growth rate ...
Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed ...
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- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- PTC India Limited - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Australian Coal Association
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
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