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