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Wednesday, 27 January 21
MARKET INSIGHT - INTERMODAL
 As we have entered the era off renewable energies, all industries globally give max effort to minimize their carbon footprint and consequently their emissions, so as the shipping industry. The IMO has set some goals regarding the decarbonization of the industry; the most challenging is to start replacing current marine fuels with greener, more efficient and eventually by 2050 eliminate the Sox and NOx along with GHG emissions.
The first stage of the plan was to cut down the Sulphur content of fuel oil to below 0.5%. Owners had the option to install scrubbers or from 1.1.2020 they had to comply and use only VLSFO. A year later it appears that Owners/Physical suppliers and Refineries were perfectly aligned to provide required quantities of VLSFO available almost everywhere in the world without disrupting the chain of global trade, thus proved from the fact that the spread between LSMGO and VLSFO was considerably small from the first few months.
Moving forward to cleaner, greener and more efficient marine fuels we identify three different pathways, 1) light gas, 2)Heavy gas and alcohol & 3) Biofuel. Due to current limitations on technology, ship designs and lack of expertise, it is anticipated to have petroleum-based fuels till 2050 at a market share of almost 40%.
Light Gas – LNG is cryogenic liquid that needs to be cooled and can be stored under ambient pressure, it is slowly but steadily increasing and is projected to have tripled to about 3000 units by 2030. Issues the industry needs to cope with are that not all ports have established local regulations and all necessary equipment/expertise to handle LNG, which actually limits the availability of the fuel.
Heavy gas and alcohol – LPG, is mainly consisted by propane and butane with small fractions of propylene Its available in large and scale and its economically attractive, worth to mention that it’s a liquid with very low handling requirements. In case of any leakage, it’s not harmful to soil and water. Alcohol, Methanol is attractive as marine fuel as its liquid in ambient conditions and simplifies the storage on board – it doesn’t not contain sulfur and little modification is required to engine and fuel supply system compared to LNG. Main issue that arises is the low energy density that keeps it less attractive for deep sea vessel, as it required 2-3 times higher frequency off bunkering than fossil fuels.
Biofuels – are produced by biomass, plants, waste oils and agricultural waste. Yield from the catalytic process of biomass has properties comparable to diesel oil and require minimum to no change to marine engines or their fuel delivery systems. The most usual component of biodiesel is fame (fatty acid methyl ester), widely provided blend of biodiesel consists of 7% of fame, but Owners / Engine manufacturers are currently experimenting with richer blends that vary from 20% up to even 100% of fame.
Looking further ahead Ammonia is an option as a zero-carbon and sulfur marine fuel if produced renewably and can contribute to reduction of GHG emissions. Its physical and chemical characteristics make it a suitable marine fuel as it’s a component used in industrial and agricultural makes it affordable and logistically attractive. It needs to be kept under pressure, but it can stay liquid in ambient temperatures. Specific modifications are required for ships that will use ammonia for propulsion as its lower energy density requires more quantity of fuel.
Recently Furetank Rederi had delivered the 7th ship out of a series of 8 that will be dual fuelled; vessel will run on LBG (Liquefied biogas) and LNG. The specific unit is the first one to perform discharge operation by using only electricity from shore. In addition, it is estimated that the ship will have 55% lower emissions of CO2, 86% of Nitrogen oxide, 99% of Sulphur oxide, and 99% of particles. Avin International has placed their first Suezmax order that will be ammonia ready.
It is becoming more and more apparent that owners have showed their intentions to minimize their emissions by experimenting with biodiesel mixtures, placing LNG/Ammonia ready new buildings.
By Dimitris Kourtesis
Tanker Chartering Broker
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, 14 April 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 1.10 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.05 points Monday, down 1.10 percent week on week.
The index, released by Chi ...
Wednesday, 14 April 21
MARKET INSIGHT - INTERMODAL
After a series of months where the dry bulk sector was attracting most of the buying interest, tankers SnP activity spiked in the previous weeks. O ...
Tuesday, 13 April 21
INDONESIAN COAL PRICE REFERENCE IN APRIL UP AGAIN ON FIRM DEMAND
COALspot.com: The Indonesia coal price reference for April 2021 settles at US$ 86.68 per ton FOB vessel.
The Indonesia coal pr ...
Monday, 12 April 21
CHINA'S ECONOMIC RECOVERY PUSHES COAL MINES TO INCREASE YIELD - GLOBAL TIMES
China’s fast economic rebound from coronavirus has driven up electricity demand, leading to higher consumption of coal which is seeing rising ...
Monday, 12 April 21
GLOBAL COAL PRODUCTION EXPECTED TO RISE BY 3.5% IN 2021, SAYS GLOBALDATA
Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions obse ...
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- Orica Australia Pty. Ltd.
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- The Treasury - Australian Government
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- Wilmar Investment Holdings
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- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
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- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
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- Romanian Commodities Exchange
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- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
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- Goldman Sachs - Singapore
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- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Australian Coal Association
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- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Planning Commission, India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
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- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
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- Minerals Council of Australia
- Power Finance Corporation Ltd., India
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- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
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- Maharashtra Electricity Regulatory Commission - India
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- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
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- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
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- The University of Queensland
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