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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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Thursday, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
The LNG market started 2021 on a high note with Asian spot prices crossing $30 per MMBtu while LNG shipping rates recorded a high $350k per day due ...
Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
Despite the moderate rebound in temperatures across most regions of China after late December’s deep-freeze, thermal coal prices in the count ...
Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
...
Wednesday, 20 January 21
MARKET INSIGHT - INTERMODAL
While 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even s ...
Saturday, 16 January 21
SEABORNE TRADE IN STEAM COAL DECREASED BY 11.6% FROM 937 MILLION TONNES IN 2019 TO 828 MILLION TONNES IN 2020 - COAL IMPORTERS ASSOCIATION, GERMANY
According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), global hard coal production dec ...
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- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
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