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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, 13 January 21
COAL TO BE BIGGEST CONTRIBUTOR TO INDIA'S $5 TRILLION ECONOMY: AMIT SHAH - BUSINESS STANDARD
The Centre on Monday awarded the letter of allocation to successful bidders of coal mines under the commercial auction held during October-November ...
Monday, 11 January 21
MUTED COAL RECOVERY IN 2021 - BALTIC EXCHANGE
Coal demand is expected to rebound in 2021
Medium-term outlook is less favourable although demand declines are expected to be subtle ...
Sunday, 10 January 21
KOREAN GENCOS INVITED BIDS FOR TOTAL 880,000 TONS OF COAL FOR MARCH 2021 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), on behalf of EWP, KOSPO, KOSEP and KOWEPO issued an international tender for total 880 ...
Friday, 08 January 21
INDIA COULD COMPETE AGAINST CHINA IN SOLAR MODULE PRODUCTION WITH THE RIGHT GOVERNMENT SUPPORT - IEEFA
The focus should be on helping manufacturers become globally competitive
Although one of the top 10 solar module producers in the world, India ...
Thursday, 07 January 21
FITCH FORECASTS DOUBLING IN ASIAN WIND, SOLAR CAPACITY BY 2029, TOPPING 1,500GW
Despite some near-term delays due to the Covid-19 pandemic, solar power and offshore wind will drive steep growth in non-hydro renewables in Asia, ...
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- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- The University of Queensland
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
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