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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, 06 March 21
AUSTRALIAN COAL: SOME WEAKNESS COULD MATERIALIZE AFTER THE WINTER - ING
Newcastle coal prices remain well supported for now, however as we move out of the winter months we would expect prices to come under pressure. Mea ...
Saturday, 06 March 21
ASIA SEABORNE COAL PRICES START TO RETREAT, CHINA-AUSTRALIA DISPUTE LINGERS - REUTERS
There are signs that the price and demand surge for coal during the recent colder-than-expected winter across North Asia is starting to ease, even ...
Thursday, 04 March 21
HEAD OF JBIC SAYS THE JAPANESE BANK WILL NOT FUND NEW COAL PLANT DEVELOPMENT - NHK NEWS
The governor of the Japan Bank for International Cooperation has said that the government-owned financial institution will stop funding new coal-fi ...
Wednesday, 03 March 21
MARKET INSIGHT - INTERMODAL
Following the recent rally to multi year highs of metal-based commodities, amid an unprecedented global economic stimulus, discussions of an emergi ...
Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- India Bulls Power Limited - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
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