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