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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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Saturday, 08 May 21
THE COAL-TO-RENEWABLES TRANSITION TAKES OFF - IEEFA
Pre-Biden changes underscore coming 10-year wave of coal plant retirements
The traditional S-curve growth exhibited by disruptive te ...
Friday, 07 May 21
CHINA'S TOTAL COAL IMPORTS FOR 2020 REACHED A VOLUME OF 304 MILLION TONS - ASSOCARBONI
Our benchmarks, manufacturing Countries like China, Germany, Japan, India, South Korea and Taiwan will continue to use a mix of coal and nuclear to ...
Friday, 07 May 21
SEABORNE WORLD COAL TRADE CLOSED 2020 IN NEGATIVE - ASSOCARBONI
Coal confirmed its leadership as leading fuel for electricity generation also in 2020, accounting for 38% of overall production. For the first time ...
Friday, 07 May 21
INDONESIA'S THERMAL COAL EXPORTS IN 2020 DECREASED BY 13%; INDIA REMAINED THE TOP DESTINATION FOR INDONESIAN COAL - ASSOCARBONI
An increase in seaborne trade is forecast for 2022, driven by markets in Southeast Asia, where growing demand for coal from Bangladesh, the Philipp ...
Friday, 30 April 21
HIGH-SULPHUR FUEL OIL SALES REBOUND AFTER PRE-IMO 2020 - BIMCO
HSFO sales are up 47.2% from Q1 2020, reaching 3.1m tonnes. This is however still less than a third of high-sulphur fuel sales in Q1 2019, before t ...
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- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
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