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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, 25 March 21
'OMNIBUS LAW' REGULATION ON INDONESIA’S ENERGY AND MINING SECTORS TO BOOST COAL PROCESSING BUT ALSO RAISES QUESTIONS - ABNR
February 2021 saw the issuance of a raft of new government regulations to give effect to the reformist Job Creation Law (colloquially known as the ...
Thursday, 25 March 21
PROPOSED SWITCH FROM COAL TO LNG THREATENS RENEWABLE ENERGY DEVELOPMENT IN ASIA - IEEFA
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A ...
Thursday, 25 March 21
MAJOR INVESTMENT ADVISORS BLACKROCK AND MEKETA PROVIDE A FIDUCIARY PATH THROUGH THE ENERGY TRANSITION - IEEFA
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms ...
Thursday, 25 March 21
EUROPE PASSES MILESTONE WITH HALF OF COAL PLANTS CLOSED OR SET TO RETIRE BY 2030 - EURACTIV
Half of Europe’s 324 coal-fueled power plants have either closed or announced a retirement date before 2030, it emerged on Monday (22 March) ...
Wednesday, 24 March 21
MARKET INSIGHT - INTERMODAL
Since the start of the pandemic, the shipping industry has efficiently responded to ensure the continuity of operations and hence the security of s ...
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- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- The University of Queensland
- Posco Energy - South Korea
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
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