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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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- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Australian Coal Association
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
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