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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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Thursday, 08 July 21
STRONGEST HALF YEAR FOR SHIPPING MARKETS SINCE 2008 - CLARKSONS
A year on from peak trade disruption, we update our half year report for the shipping industry profiling a strong recovery and some exceptional ind ...
Tuesday, 06 July 21
INDONESIA COAL PRICE REFERENCE RISES TO 112 MONTHS HIGH IN JULY 2021; 121.15% HIGHER COMPARED TO THAT IN JULY 2020 PRICE
COALspot.com: The Indonesia coal price reference for July 2021 fixed at US$ 115.35 per ton FOB vessel.
The Indonesia coal price referenc ...
Tuesday, 06 July 21
INDONESIAN COAL EXPORTS FELL BY 37% YOY IN 1Q21 DUE TO ADVERSE WEATHER CONDITIONS - FITCH RATINGS
Chinese coal imports declined by 25% yoy in 5M21as a result of both restrictions on Australian coal and the high base in 2020. Import volume in Jan ...
Tuesday, 06 July 21
INDONESIAN 4,200 INDEX HAS ALSO INCREASED TO OVER USD50 PER TONNE SINCE MAY THIS YEAR REFLECTING STRONG CHINESE IMPORT DEMAND - FITCH RATINGS
Price Surge Since March
APAC thermal coal has resumed its price surge since March this year. The benchmark Newcastle 6,000kcal/kg grade c ...
Thursday, 01 July 21
WHY INDIA’S SOLAR POWER TARIFFS ARE CLIMBING AFTER HITTING RECORD LOWS LAST YEAR - IEEFA
What’s behind the recent increase?
Solar tariffs are deflationary. Prices have fallen by 75% in seven years in India, and in 2 ...
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- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
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