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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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Monday, 08 March 21
MARCH 2021 INDONESIA COAL PRICE REFERENCE SETTLES LOWER
COALspot.com: The Indonesia coal price reference for March 2021 settles at US$ 84.49 per ton FOB vessel.
The Indonesia coal pr ...
Saturday, 06 March 21
AUSTRALIAN COAL: SOME WEAKNESS COULD MATERIALIZE AFTER THE WINTER - ING
Newcastle coal prices remain well supported for now, however as we move out of the winter months we would expect prices to come under pressure. Mea ...
Saturday, 06 March 21
ASIA SEABORNE COAL PRICES START TO RETREAT, CHINA-AUSTRALIA DISPUTE LINGERS - REUTERS
There are signs that the price and demand surge for coal during the recent colder-than-expected winter across North Asia is starting to ease, even ...
Thursday, 04 March 21
HEAD OF JBIC SAYS THE JAPANESE BANK WILL NOT FUND NEW COAL PLANT DEVELOPMENT - NHK NEWS
The governor of the Japan Bank for International Cooperation has said that the government-owned financial institution will stop funding new coal-fi ...
Wednesday, 03 March 21
MARKET INSIGHT - INTERMODAL
Following the recent rally to multi year highs of metal-based commodities, amid an unprecedented global economic stimulus, discussions of an emergi ...
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- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- The University of Queensland
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Australian Coal Association
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Planning Commission, India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
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