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Wednesday, 22 February 17
TANKER MARKET INSIGHT - KATERINA RESTIS
 In 2016 a session of the IMO committee in London, set the new prerequisites effective from January 2020, which will necessitate global Sulphur content of marine fuels to be condensed from the current maximum of 3.5% to 0.5%. This decision is designed to radically reduce emissions produced by vessels using marine diesel and fuel oil and principally the levels of Sulphur oxides (SOx), nitrogen oxides (NOx) and particulate matters (PM). The shift will impose major costs for the shipping industry in search for efficient solutions. As of 2015 vessels in the SECAs areas comprising of the Baltic Sea, North Sea, North American ECA, most of the US and Canadian coast and the US Caribbean ECA, are compelled to use marine fuels with only 0.1% Sulphur content.
Nowadays, natural gas in most nations is a significant power source for residential, commercial & industrial sectors’ energy needs. Several arguments indicate that LNG utilization as transportation fuel and in particular its shipping implementation may provide a future-fit solution as it has nearly no Sulphur content (0.004%). Even though LNG requires more tank space (volumetric) compared to other transportation fuels to generate equivalent energy, is of lower cost and environmentally friendly.
Furthermore, it emits zero SOx and with the use of appropriate technology almost 90% fewer NOx. Furthermore, it is a global commodity widely available, with more than 20 countries exporting to 35 importing countries. Market penetration is increasing in areas such as Middle East, Africa, Latin America and South-East Asia. The market is currently heading into oversupply with estimates of approximately 150 million tons per annum of new export capacity due to come on line between 2015-2020, representing 50% increase over current capacity.
Lately, an increasing number of bunkering facilities is being built, while current developed infrastructure is concentrated in North West Europe like Rotterdam, Stockholm as well as the USG. Moreover, Asian ports that serve deep-sea routes are in the process of developing LNG bunkering facilities as evidenced by the world’s busiest bunker port, Singapore. The use of LNG for marine propulsion has been used for decades in the LNG carrier industry however the first LNG fueled vessel with gas engines and storage was the ferry “Glutra” and came into service in 2000 in Norway. Currently there are 97 LNG fueled vessels mainly operating in the ECAs areas of N.W. Europe and North America. Increase incentive in demand is evident from the 91 orders already placed by the end of 2016 for LNG-fueled ships.
Additionally, the new Gas4Sea partnership has taken delivery of the world’s first purpose-built LNG bunkering vessel from Hanjin Heavy Industries and Construction in South Korea. An increasing number of companies is looking for environmentally friendly supply chains in response to policies imposed. VW Group for example stated that from 2019 they will use two LNG-powered charter vessels for the transport of vehicles.
Uncertainty of global economic activity affecting shipping activity, fuel prices, environmental regulations, know-how and machine technology, costs of infrastructures and LNG availability are the key elements underlying demand that necessitates further research as the global economic outlook remains unclear. The use of alternative fuels is essential for breaking the oil dependence, improving competitiveness and reducing greenhouse gas and pollutant emissions and we expect the shipping industry to slowly but steadily move towards that going forward.
By Katerina Restis
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
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, 24 March 17
ADARO INDONESIA'S COAL SALES VOLUME INCREASED SLIGHTLY TO 54.1 MILLION TONES IN 2016
COALspot.com: PT. Adaro Indonesia, Indonesia’s second largest coal miner’s sales volume increased slightly to 54.1 million tones (Mt) i ...
Friday, 24 March 17
U.S COAL PRODUCTION ESTIMATE DECLINE 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.1 million short tons ...
Thursday, 23 March 17
CAPESIZE: TAKING A BREATHER AFTER RALLYING - BUT OUTLOOK FOR WEEKS TO COME NOT SCARY - FEARNLEYS
Supramax
In the Pacific the market seems somewhat slower this week, although healthy rates still being achieved said Fearnleys in its latest week ...
Thursday, 23 March 17
KOREA MIDLAND POWER COMPANY LIMITED INVITES BIDS FOR TOTAL 4.77 MILLION TONS OF BITUMINOUS COAL FOR ITS BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 2,090,000 Metric Tons of Bituminous coal f ...
Wednesday, 22 March 17
THE DRY BULK MARKET HAS UNDOUBTEDLY REBOUNDED SINCE THE SAME PERIOD LAST YEAR - KONSTANTINOS KONTOMICHIS
The Dry Bulk market has undoubtedly rebounded since the same period last year and currently enjoys healthier freight rates. The positive reversal i ...
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- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Australian Coal Association
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- VISA Power Limited - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
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