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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, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
The LNG market started 2021 on a high note with Asian spot prices crossing $30 per MMBtu while LNG shipping rates recorded a high $350k per day due ...
Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
Despite the moderate rebound in temperatures across most regions of China after late December’s deep-freeze, thermal coal prices in the count ...
Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
...
Wednesday, 20 January 21
MARKET INSIGHT - INTERMODAL
While 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even s ...
Saturday, 16 January 21
SEABORNE TRADE IN STEAM COAL DECREASED BY 11.6% FROM 937 MILLION TONNES IN 2019 TO 828 MILLION TONNES IN 2020 - COAL IMPORTERS ASSOCIATION, GERMANY
According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), global hard coal production dec ...
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- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
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