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