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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 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record ...
Friday, 24 February 17
US WEEKLY COAL OUTPUT ESTIMATED AT 16.8 MMST - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 23 February 17
ULTRA SUPRAMAX: INDONESIA TO INDIA IS GETTING AROUND $10-11K BASIS SINGAPORE DELIVERY
Supramax
The week started off quietly in the Atlantic with more activity in the Pacific basin.
According to Fearnleys weekly report, frontha ...
Tuesday, 21 February 17
INDIA'S JANUARY COAL IMPORTS DECLINE 21.7 PERCENT YEAR -ON-YEAR TO 14.31 MT - PTI
Coal imports declined by 21.7 per cent to 14.31 million tonnes in January as the power utilities did not lift much fuel due to abundant stock avail ...
Tuesday, 21 February 17
CHINESE EXPORTS SHOWED A YEAR-ON-YEAR RISE FOR THE FIRST TIME IN TEN MONTHS; S. KOREA'S EXPORTS UP FOR PAST THREE MONTHS IN A ROW - GEORGE LAZARIDIS
We have started to some sparks of life in the commodities markets these past weeks, with prices having shown a strong push during the past couple o ...
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- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Planning Commission, India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
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