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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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Tuesday, 21 March 17
DESPITE THE CHALLENGING MARKET SITUATION IN 2016 THE DELTA DUNIA MAKMUR HAS ACHIEVED A NET PROFIT OF US$37 MILLION
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the period ended December 31, 2016.
Despite challenging marke ...
Tuesday, 21 March 17
JAPAN'S RENEWED COMMITMENT TO COAL - BENJAMIN SPORTON
Japan is one of the largest economies in the world, and has long been a major consumer and importer of energy and a leader in energy technology dev ...
Monday, 20 March 17
IS THE DRY BULK INDUSTRY STILL ON TRACK FOR PROFITABILITY IN 2019? - PETER SAND
The industry remains well on target for profitable freight rates in 2019! This relies however, on the projected fleet supply growth rate of 0% in 2 ...
Friday, 17 March 17
U.S WEEKLY COAL OUTPUT VOLUME SLIDES 6.5 PERCENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ton ...
Thursday, 16 March 17
CHINA IMPOSING TOUGHER CONTROLS ON LOW-QUALITY COAL IMPORTS
China is ramping up controls on imports of low-quality coal due to concerns about smog and overcapacity in the world’s top coal consumer, a g ...
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- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
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