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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, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
Wednesday, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
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- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Renaissance Capital - South Africa
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Planning Commission, India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
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