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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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Wednesday, 13 October 21
MARKET INSIGHT - INTERMODAL
Following up on our insight on May 2021, where we discussed about the Capesize market outlook for the second half of the year, we are pleased to se ...
Wednesday, 13 October 21
FBX INDEX: THE IMPOSSIBILITY OF SHORT-TERM FORECASTING - LARS JENSEN
Will freight rates on Asia-Europe or the Transpacific reach 40.000 USD/FFE in the run-up prior to Chinese New Year 2022? Or will they start droppin ...
Wednesday, 13 October 21
CHINA FLOODS: COAL PRICE HITS FRESH HIGH AS MINES SHUT - BBC
The price of coal used in China’s power plants has surged to a new record high as another of the country’s key mining regions is hit by ...
Tuesday, 12 October 21
BUMA SIGNS CONDITIONAL AGREEMENT FOR AUSTRALIAN ASSET ACQUISITION
PT Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, through its newly incorporated Australian subsidiary, BUMA International Pty ...
Tuesday, 12 October 21
INDONESIA'S COAL-BASED POWER PLANTS ARE SUBJECT TO CARBON TAX NEXT YEAR, ELECTRICITY COSTS COULD RISE! - CNBC
The Indonesian government is planning plans to implement a carbon tax of IDR 30 per kilogram (kg) of carbon dioxide equivalent (CO2e) or equivalent ...
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- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- White Energy Company Limited
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- The University of Queensland
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
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