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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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Wednesday, 28 April 21
MARKET INSIGHT - INTERMODAL
Despite the current challenges as a result of the global pandemic, 2021 is turning out to be a landmark year for the iron ore market with spot pric ...
Monday, 26 April 21
CHINA TO FURTHER CUT COAL USE IN 2021 - XINHUA
China aims to reduce the share of coal in its energy mix to less than 56% this year, according to a guideline released by the National Energy Admin ...
Wednesday, 21 April 21
COAL FINANCING COSTS HAVE SURGED IN PAST 10 YEARS - UNIVERSITY OF OXFORD - THE GUARDIAN
Coal financing costs have surged over the last decade as investors demand returns four times as high as the payoff required from renewable energy p ...
Tuesday, 20 April 21
US DOLLAR LIBOR TRANSITION IN ASSET FINANCE - WHERE ARE WE NOW? - WATSON FARLEY & WILLIAMS
Since our last article, there has been a raft of regulatory and market body announcements relating to the transition away from LIBOR and the follow ...
Sunday, 18 April 21
INDONESIA LIKELY TO WITNESS 119 OIL AND GAS PROJECTS STARTS ACROSS VALUE CHAIN BY 2025, SAYS GLOBALDATA
Indonesia is expected to witness 119 oil and gas projects commencing their operations across value chain during 2021-2025, accounting for 6% of the ...
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- Mjunction Services Limited - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
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