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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, 06 January 21
INDONESIA EXCEEDS COAL PRODUCTION TARGET IN 2020
Indonesian coal production reached 557.54 Million Tons in 2020 1.37% higher than of last year’s total target of 550.00 Million Tons, accordin ...
Wednesday, 06 January 21
CHINESE CITIES REPORTEDLY GO DARK AS COUNTRY FACES SHORTAGE OF COAL, A MAJOR AUSTRALIAN EXPORT - CNBC
Several major Chinese cities have reportedly gone dark as authorities limit power usage, citing a shortage of coal.
Analysts said pr ...
Tuesday, 05 January 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP - XINHUA
China Taiyuan coal transaction price index stood at 136 points Monday, up 0.91 percent week on week.
The index, released by China Ta ...
Tuesday, 05 January 21
THE INDONESIA COAL PRICE REFERENCE SOARS TO HIGHEST ONE-MONTH INCREASE SINCE DECEMBER 2016
COALspot.com: The Indonesia coal price reference for January 2021 settles above $75 for the first time since July 2019 and to highest one-month inc ...
Monday, 04 January 21
U.S. RENEWABLE ENERGY CONSUMPTION SURPASSES COAL FOR THE FIRST TIME IN OVER 130 YEARS - EIA
In 2019, U.S. annual energy consumption from renewable sources exceeded coal consumption for the first time since before 1885, according to the U.S ...
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- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
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