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