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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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Friday, 04 September 20
KOMIPO INVITED BIDS FOR AUSTRALIAN MIN 5,700 NCV COAL FOR NOVEMBER
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 260,000 MT Min.5,700 kcal/kg NCV coal November, 2020 loading. Acc ...
Thursday, 03 September 20
BRINGING SERVICES OF FTCCI CLOSER TO THE EXPORTERS AT GMR AIR CARGO COMPLEX AT SHAMSHABAD
Press Release: “FTCCI Trade Facilitation Services at your doorstep now” says J.S. Chandrashekar, IRS., Principal Commissioner of Custom ...
Thursday, 03 September 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 02 September 20
COAL PRODUCTION FALLS 7% IN APR-AUG; OFF TAKE DIPS 13.4% - FINANCIAL EXPRESS
In the month of August coal off take also increased 9.3% y-o-y to 44.34 MT as compared with 40.57 MT in the same period last year.
C ...
Wednesday, 02 September 20
MARKET INSIGHT - INTERMODAL
The imminent global shift towards eco-friendliness has caused divide among the shipping community because there is no outlined, clear-cut way via w ...
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- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Australian Coal Association
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
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- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- PTC India Limited - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
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