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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 October 21
GLOBAL STEEL DEMAND GROWTH DOWNGRADED FOR 2021 DUE TO CHINA - WORLD STEEL ASSOCIATION
The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that ste ...
Thursday, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten ...
Thursday, 14 October 21
EIA FORECASTS U.S. COAL PRODUCTION TOTALS 588 MMST IN 2021, UP 53 MMST YOY
U.S. coal production in EIA's forecasts totals 588 million short tons (MMst) in 2021, 53 MMst more than in 2020.
According ...
Wednesday, 13 October 21
COAL PRICES ARE ROARING BACK AMID A GLOBAL ENERGY CRUNCH - SYDNEY MORNING HERALD
Soaring coal prices have placed Australia’s mining and energy exports on track to reach a record $349 billion this year evenas the value of t ...
Wednesday, 13 October 21
CHINA ISN'T THE ONLY HUGE ASIAN ECONOMY WITH A COAL SHORTAGE NOW - CNBC
China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis.
Mos ...
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- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- The University of Queensland
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
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