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Wednesday, 25 November 20
MARKET INSIGHT - INTERMODAL
 Over 90% of the world’s goods are transported by sea. LPG is a clean, energy efficient and portable fuel that is being marketed at an affordable price, while it is promptly available across the globe. LPG is mainly sourced from natural gas and oil production operations, but as new technologies and techniques grow, it can be further produced from renewable sources. Currently, LPG is already a preferred marine fuel solution for LPG carriers. Furthermore, the World LPG Association has stated that LPG as a marine propulsion fuel will play a leading role towards IMO's 2050 regulations, which will require further reduction on greenhouse gas emissions by at least 50% until 2050, compared to 2008. As stated by the WLPGA association with the marine industry pressured to comply with IMO 2020 by reducing emissions, LPG can make significant inroads into the marine fuel market. Hence, LPG propulsion, starting with the LPG carrier sector, needs to move beyond a niche fuel option, to gain the acceptance in the wider shipping sector that it deserves.
The current demanding environmental regulations and large capital investment required to set up new facilities, have restrained the market growth. Advancements in technologies, such as new alternative fuel propulsion engine technologies, are expected to boost market growth. LPG as a propulsion fuel is today almost absent from the shipping sector and especially from commercial vessels, where the vast majority of engines are diesel, and alternative fuels solutions such as LNG continue their growth. However, regarding larger commercial and passenger ships, LPG is starting to get some attention as it stands as a likely alternative among the other gaseous fuels. Ship operators, with traditional propulsion plants and fuels, mainly couldn’t meet the new 2020 regulations without installing expensive exhaust equipment or switching to low‐sulphur diesel, low‐sulphur residual, or other alternative fuels, all of which have an impact on profit. As attention turns to an array of possible solutions, heavy-sulphur fuel oil with scrubbers, distillates, blended fuels and LNG, so as to comply with the IMO's 0.5% global sulphur cap regulation, LPG may gain more acceptance as a viable solution, as compared to LNG, which is more problematic and expensive to implement.
As reported LPG's growth will be fast-tracked, since the infrastructure for distribution and bunkering is already largely available to serve potential marine market demand. There are more than 1,000 LPG storage facilities worldwide that can be used for LPG bunkering, and more than 700 small size LPG carriers, that can be used for ship-to-ship bunkering. It is worth to mention that in 2018 Dorian LPG entered into a MOU with Hyundai Global Service to undertake research and engineering studies to upgrade the main engines of up to 10 of the Company's VLGCs to dual fuel technology utilizing LPG as fuel in anticipation of environmental regulations. LPG supply surplus is an additional advantage with production excess ranging from 15 to 27 ΜΤ per year, which are either used or “lost”. Reduce LPG prices (comparatively to LNG) driven by the shale gas revolution is also an important driver for market entry.
On the other hand, the use of LPG as a marine fuel faces challenges that need to be defeated such as the investment required by ship owners and fleet operators and the need for LPG to be on a level playing field with other alternative fuels. Also, the prerequisite of technology development of new engines together with the necessity of commercialization of these new engines.
Last but not least, shipbuilders are already considering vessel designs that use LPG as propulsion fuel. It can be used in all sizes of vessels from the largest ocean going ships, down to the smaller boats with inboard or outboard engines. It may play a leading role in this changing environment and re-establish its position, as an effective alternative clean marine fuel. Coordinated action from all related stakeholders is key to address the identified specific issues that hinder development and release the market potential.
By Katerina Restis
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
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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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
...
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- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- The University of Queensland
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
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