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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
Wednesday, 10 February 21
MARKET INSIGHT - INTERMODAL
We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of ...
Tuesday, 09 February 21
SWITCHING COAL PLANTS TO PLN'S BIOMASS COFIRING PLAN IS NO MAGIC BULLET - IEEFA
Implementation risks for Indonesia PLN's switch from coal to biomass cofiring
PLN’s biomass cofiring plan will require not ...
Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
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- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
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