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