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