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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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Wednesday, 03 February 21
INDONESIA TO EXPORT 395 MILLION TONS OF COAL IN 2021 - ESDM
Data from the Ministry of Energy and Mineral Resources shows that, Indonesia is planning to produce 550 million Ton of coal in 2021 and as of t ...
Wednesday, 03 February 21
MARKET INSIGHT - INTERMODAL
"2020 the year from hell for the entire world, had everything for shipowners. The introduction of the sulphur cap and VLSFO, a Pandemic outbre ...
Tuesday, 02 February 21
WILL THE ELECTRONIC B/L BE FULLY IMPLEMENTED? FIVE POINTS TO CONSIDER - MOL
KNOWLEDGE TO ELEVATE
The trend towards digitization of Bills of Lading (B/L) has begun to attract attention in the trade and shipping industrie ...
Monday, 01 February 21
A 56,000-DWT OPEN MANILA WAS FIXED FOR A TRIP VIA INDONESIA REDELIVERY CHINA AT $11,500 - THE BALTIC BRIEFING
Capesize
The Capesize routes endured a week of slippage on rates, bringing the market back down to levels seen at the beginning of the month. D ...
Monday, 01 February 21
PAKISTAN: COAL DEMAND EXPECTED TO SPIKE IN 2021 - DAWN
Coal demand is expected to remain upbeat in 2021 as more coal-fired and captive power plants are coming up in the current year.
Acco ...
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- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- The University of Queensland
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
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