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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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Saturday, 16 October 21
DESPITE HIGHER COAL PRICES, U.S. COAL RECOVERY LOOKS WEAK BY MOST MEASURES - IEEFA
U.S. coal sector is locked into a long-term sectoral decline
Coal prices have surged to the highest level in years in the U.S., and have soare ...
Saturday, 16 October 21
COAL IS 'KING' AS GAS PRICES SOAR, TOTAL CEO SAYS - AND IT’S BACKFIRING ON CLEANER ENERGY GOALS - CNBC
Surging natural gas prices have led to a jump in coal use, with plants in Europe and Asia firing back up as temperatures decline and the world grap ...
Saturday, 16 October 21
VIETNAM'S COAL-FIRED POWER MAY DOUBLE BY 2030 UNDER DRAFT ENERGY PLAN - REUTERS
Vietnam may double the amount of coal-fired electric generation it installs by 2030 under a draft power development plan submitted to the prime min ...
Friday, 15 October 21
AUSTRALIA'S WHITEHAVEN EXPECTS TO BE DEBT-FREE NEXT YEAR AS COAL PRICES SOAR - REUTERS
Australia’s Whitehaven Coal WHC.AX said on Thursday it expects to be debt-free by early 2022, as thermal coal prices surge to record highs on ...
Friday, 15 October 21
WINTER CHILL KEEPS CHINA'S COAL PRICES HIGH, POWER CRUNCH STOKES INFLATION - REUTERS
China coal prices held near record highs on Thursday as cold weather swept into the country’s north and power plants stocked up on the fuel t ...
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- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
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