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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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Monday, 25 January 21
ULTRAMAX YET ANOTHER POSITIVE WEEK FOR THE SECTOR, WHICH SAW INCREASED DEMAND ACROSS ALL BASINS - BALTIC BRIEFING
Capesize
The Capesize market rocked and rolled these past few days. But by weeks end little had changed on the Capesize 5TC as it settled down ...
Monday, 25 January 21
NEW LAW IN CALIFORNIA, USA, AFFECTING SHIPOWNERS' LIABILITY FOR OIL POLLUTION - BIMCO
Members are advised that amendments to the so-called Lempert-Keene-Seastrand Oil Spill Prevention and Response Act of 1990 in the State of Californ ...
Monday, 25 January 21
COAL INDIA SAYS GEARED UP TO MEET SURGE IN FUEL DEMAND FROM POWER SECTOR - PTI
State-owned Coal India Ltd on Saturday said that it is well geared to meet any surge in demand for coal from the power sector.
The s ...
Sunday, 24 January 21
GOVT ASSURES COAL INDIA OF 'FULL SUPPORT', STRESSES ON LEARNING 'NEW THINGS' - PTI
Coal Minister Pralhad Joshi assured Coal India of full government support, even as he said the PSU needs to learn “new things” for impr ...
Saturday, 23 January 21
GOVT PLANNING TO OPEN UP COAL MARKETING TO STREAMLINE PROCESS - THE INDIAN EXPRESS
The government is considering opening up coal marketing, Coal Secretary Anil Kumar Jain said on Thursday. Currently, production by Coal India is al ...
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- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
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