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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 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
Monday, 25 October 21
CHINA VOWS TO SEVERELY PUNISH MARKET VIOLATIONS AMID LOW COAL FUTURES PRICES - GLOBAL TIMES
Domestic coal futures had plunged for three consecutive trading days after the government vowed to crack down on soaring prices, and China’s ...
Monday, 25 October 21
FARMERS MAY JOIN THE COAL COMMODITY MARKET TO REDUCE RISKS - GLOBAL TIMES
A recent trip to by the Global Times to East China’s Shandong Province to get a glimpse of China’s coal supply chain revealed a surpris ...
Monday, 25 October 21
CHINA COAL PRICES MARK WORST WEEK SINCE MAY ON GOVERNMENT INTERVENTION - REUTERS
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest interventio ...
Friday, 22 October 21
THE BIG PICTURE: ENERGY MARKETS - BREAK WAVE ADVISORS
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s alw ...
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- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
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