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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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Friday, 15 January 21
OVER US$50 BILLION IN GAS POWER PROJECTS AND LNG IMPORT FACILITIES AT RISK OF CANCELLATION IN BANGLADESH, PAKISTAN AND VIETNAM - IEEFA
Pakistan and Bangladesh have already cancelled tenders for LNG imports
Emerging markets such as Vietnam, Pakistan and Bangladesh tha ...
Friday, 15 January 21
VIETNAM'S EXTRAORDINARY ROOFTOP SOLAR SUCCESS DEALS ANOTHER BLOW TO THE REMAINING COAL PIPELINE - IEEFA
9.3 gigawatts peak of solar capacity, equal to 6 coal power plants, installed in less than a year
Vietnam’s solar power indust ...
Friday, 15 January 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 14 January 21
KOREA MIDLAND POWER INVITED BIDS FOR AUSTRALIAN COAL FOR THREE YEARS SUPPLY
COALspot.com: Korea Midland Power Co. Ltd, issued an International tender for total 1,560,000 MT of Min.5,700 kcal/kg NCV coal of Australian Origin ...
Wednesday, 13 January 21
CHINA THERMAL GENCO PROFITS FACE PRESSURE AMID POWER SHORTAGES - FITHCH WIRE
High coal and gas prices will put near-term pressure on margins for thermal power generators in China, says Fitch Ratings. However, the power short ...
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- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Romanian Commodities Exchange
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
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