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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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Thursday, 16 March 17
CAPESIZE: SHOWING STRENGTH; PANAMAX: VERY QUIET - FEARNLEYS
Supramax
The Atlantic market faced less activity from the USG whereas at the Cont tonnage seemed to tighten up with more cargoes emerging. Despit ...
Wednesday, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has be ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
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