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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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Tuesday, 23 March 21
LOWER WHOLESALE PRICES PUT PRESSURE ON AUSTRALIAN ENERGY RETAILERS - FITCH RATINGS
Fitch Ratings expects the low wholesale energy prices in the Australian National Energy Market to persist through to 2022, which will affect electr ...
Tuesday, 23 March 21
SCRUBBER-FITTED SHIPS NEARLY DOUBLE AS FUEL SPREAD SETTLES AT $118 PER MT - PETER SAND
As the lion’s share of the world fleet replaced high-sulphur fuel oil (HSFO) with low-sulphur fuel oil (LFSO) as a mean of propulsion to be c ...
Tuesday, 23 March 21
CHINA'S COAL OUTPUT EDGES UP IN FIRST TWO MONTHS - XINHUA
China’s raw coal output rose 25 percent year on year to 620 million tonnes in the first two months of 2021, official data showed.
...
Wednesday, 17 March 21
MARKET INSIGHT - INTERMODAL
Shipping market players are familiar with the inverse correlation between the freight market and demolition activity i.e. when the market picks up ...
Friday, 12 March 21
INDIA SHOULD FOCUS ON REDUCING COAL POWER GENERATION INSTEAD OF CAPACITY - IEEFA
Nearly half of existing coal power in India is more expensive than new renewable power
To get to its ambitious climate targets, Indi ...
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- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- London Commodity Brokers - England
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Parliament of New Zealand
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
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