We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 20 October 21
MARKET INSIGHT - INTERMODAL
 IMO 2020, Ballast Water Treatment regulations, Green Recycling, GHG emissions, EEXI, CII, ETS, Fit for 55, Carbon price/levy, the Poseidon Principles are just a handful pieces of evidence that the environmental regulations are not only knocking on the door, but are already inside the shipping house and with the intention to stay for good.
Ship operators and managers, charterers, ship financiers must take good consideration of all the above before making any operational and investment decision; including placing an order for a new-building vessel, which has become the most complex decision to make, given all the new regulations and technologies coming up.
In this radically changing environment, ship financiers need to assist the industry to bear the burden of the enormous cost of the new regulations/technologies and in general the setting up of the new greener landscape. So far, and while claiming that they will incentivize international shipping’s decarbonization, the focus in the immediate future is to finance solely modern/ecofriendly vessels, while older vessels’ access to financing which would need it the most for their environmentally upgrade is constrained by leading banks and left to alternative financing. This bifurcation in lending constitutes an obstacle for ships that don’t already have green credentials to take significant investment steps towards the energy transition requirements.
Obviously, banks are afraid of being left with portfolios of assets that in 3-4 years’ time have a minimum value (being non green assets). On top of this, there is the concern that a two-tier assets market might develop when the new regulations kick in. The one tier being this of the greener ships and the second one being the tier with the older, non-eco ones that may be employed at a discount. This places another risk factor for the banks. The risk of their financing projects not being profitable anymore. In this context, older ships seem to be left with the operational choice of reducing engine power and thus lower speeds as a primary measure to be “emissions compliant”. While the choice split on the speed level between the shipowner and the charterer will largely depend on the prevailing freight market structure i.e. voyages or timecharters that older vessels will be opted to be deployed under, the sure thing is that they will all try to take advantage of it and negotiate the fixing rates.
Will this be the case? Will we have another scrubber – non scrubber dilemma going forward? Will the new regulations, emissions mitigation costs via carbon prices / potential fuel levies, limited financing options (or expensive options through alternative financing) and lesser charter rates increase scrapping considerations in 2-3 years time, given that approx. 23% of the combined bulk tankers and containers fleet is above 15 years of age? Does the market have the luxury of losing even a fraction of this via scrapping considering the freight market upcycle across most shipping sectors leads to increased deadweight requirements? Let’s just have a look at what’s happening nowadays due to elevated port congestion, which has tied up a significant share of the dry bulk and containers fleet creating market inefficiencies that have exercised strong upward pressures on freight rates with container rates at record high levels and dry bulk freight rates at the highest in 13 years.
Therefore, a further fleet supply squeeze creates good chances that younger vessels will benefit from a charter premium compared to their older peers. However, this that does not mean that older vessels will become obsolete. This is something that the banks need to realise and start supporting their clients when it comes to ‘’older’’ vessels’ financings. It goes without saying that the whole shipping value chain needs to adjust to the new greener environment regime. The banks need to support this new and highly expensive venture of their clients not just by not financing older vessels, but also providing real, monetary incentives that will have tangible and meaningful effect to their daily operating costs.
By George Laios,
Deputy CEO
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 25 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
Monday, 25 October 21
CHINA VOWS TO SEVERELY PUNISH MARKET VIOLATIONS AMID LOW COAL FUTURES PRICES - GLOBAL TIMES
Domestic coal futures had plunged for three consecutive trading days after the government vowed to crack down on soaring prices, and China’s ...
Monday, 25 October 21
FARMERS MAY JOIN THE COAL COMMODITY MARKET TO REDUCE RISKS - GLOBAL TIMES
A recent trip to by the Global Times to East China’s Shandong Province to get a glimpse of China’s coal supply chain revealed a surpris ...
Monday, 25 October 21
CHINA COAL PRICES MARK WORST WEEK SINCE MAY ON GOVERNMENT INTERVENTION - REUTERS
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest interventio ...
Friday, 22 October 21
THE BIG PICTURE: ENERGY MARKETS - BREAK WAVE ADVISORS
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s alw ...
|
|
|
Showing 436 to 440 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
|
| |
| |
|
