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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, 22 October 21
CHINA WANTS TO COOL COAL PRICES. SIMILAR MOVES FOR METALS, CRUDE FAILED - REUTERS
China’s latest attempt to lower runaway commodity prices, this time for thermal coal, is likely to follow a familiar pattern of initial succe ...
Friday, 22 October 21
HARD COAL REMAINS AN IMPORTANT FACTOR FOR SECURITY OF SUPPLY - COAL IMPORTERS ASSOCIATION, GERMANY
- Hard coal remains an important factor for security of supply
- Increase of around 35% in hard-coal-fired power generation in the first three ...
Wednesday, 20 October 21
CHINA'S COAL SHORTAGE TO EASE IN COMING MONTHS, INDUSTRY BODY SAYS - REUTERS
China’s coal shortage will likely ease in coming months, with domestic production and imports already showing signs of picking up, a coal ind ...
Wednesday, 20 October 21
CHINA'S RAW COAL OUTPUT DROPS IN SEPTEMBER - XINHUA
China’s raw coal output dropped 0.9 percent year on year to 330 million tonnes last month, data from the National Bureau of Statistics (NBS) ...
Wednesday, 20 October 21
OVER-RELIANCE ON COAL IN OUR POWER MIX HURTING INDIA - LIVEMINT
In spite of the renewables push, coal still accounts for about 50% of India’s installed power capacity. That means a simultaneous demand and ...
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- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
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