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Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
 Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world are focusing on reducing climate risks, accelerate the adoption of clean energy technologies and secure the transition towards new clean energy industries, while ensuring security on energy supply. As reported, net zero carbon targets have to quickly turn into real world action in order to reach long-term climate goals, as action must start now. The shipping industry has a central role in the global supply chains with vessels on average carrying more than 80% of worldwide trade by volume. Regulators, maritime companies and financial institutions act to drive the sector towards decarbonization. The maritime industry is one of the few sectors not particularly discussed on the Paris Agreement on climate change. The industry is estimated to be responsible for approx. 3.0% of global CO2 emissions, but several scientists have projected that the sector could account for 17% of the total annual CO2 emissions by 2050.
The IMO has set a goal of decreasing the total annual greenhouse gas emissions of the maritime industry by 50% by 2050 compared to 2008. While progression steps are being ascertained still the industry is facing unique challenges as zero-carbon fuels and technologies are not yet available at the scale needed for wide market penetration, according to the ICS. As discussed, in order to create zero emissions fleets, new fuels and propulsion systems will need to be developed, advanced vessels and a new global refueling network. In order for a ship to emit zero emissions it has to be capable of operating on fuels or other forms of propulsion that do not emit carbon and greenhouse gases. The sector is exploring substitution fuels and technologies, such as batteries, sustainable bio-fuels, and green or blue hydrogen and their derivatives such as ammonia and methanol. Zero-carbon fuels alone are still far more expensive than marine bunker fuel oil, on top we have to account infrastructure CAPEX that will add to delivery prices.
It has long been wisely reasoned that natural gas may serve as a bridge fuel to a low-carbon future as being a climate-friendly substitute. Recently, LNG prices have spiked particularly as demand is accelerating amid the increase in industrial production and for electricity generation purposes as above average temperatures across the globe have forced the market into deficit. The energy complex has seen inflationary pressures over the past two months with both oil and coal prices surging and sustaining the lift in LNG prices, with Asian LNG delivered prices having risen to the highest level since January 2021, when a record cold winter lifted prices at record levels. Europe's LNG demand remains robust too, amid increased imports in order to replenish inventories. Taking the above into consideration and according to a recent Bloomberg analysis, the era of inexpensive natural gas is over, leading to a period of far more pricey energy that will create surge effects across the economies: “Natural gas was competitively priced during the last decade and latest spiked rates are observed as demand drastically outpaced new supply. It remains to be seen whether above fundamentals will influence shipowners’ decision making for LNG fueled vessels.
More than 150 companies in the maritime, energy, infrastructure and finance sectors are participating in the Getting to Zero Coalition, which is coordinated by the Global Maritime Forum. The coalition’s recent report concludes that a 5% adoption rate of zero emissions fuels will be needed by 2030 in order for shipping decarbonization to be aligned with the Paris agreement goals. The tipping point for the shipping industry would be when low-carbon technology cost declines enough to prompt its rapid adoption with positive feedback loops between different actors raising confidence, increasing demand and investment throughout the value chain.
By Katerina Restis,
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
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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Friday, 13 August 21
INDONESIA’S COAL EXPORTS TO JAPAN DECLINED BY -26.3% YOY TO 11.9 MLN TONNES IN THE FIRST 7 MONTHS OF 2021; STILL THE SECOND LARGEST SOURCE FOR JAPAN’S COAL IMPORTS IS INDONESIA - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. Total global loadings in the 12 months of 2020 were down -12.7% year-on-yea ...
Thursday, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
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- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
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