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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, 11 October 21
COAL ABANDONMENT IN POWER GENERATION PROMOTED GAS DEMAND GROWTH IN EUROPE - TOP MANAGER: TASS
Accelerated abandonment of coal in power generation and the overall recovery of economic activity facilitated gas demand growth in Europe and led t ...
Saturday, 09 October 21
CHINA POWER CUTS: COAL MINERS ORDERED TO BOOST OUTPUT, SAY REPORTS - BBC
Beijing has reportedly ordered China’s coal mines to boost output as an energy shortage across the country has seen millions of homes and bus ...
Friday, 08 October 21
SEPTEMBER CRUDE OIL TANKER DEMOLISHING HITS 39-MONTHS HIGH AT 1.9M DWT - PETER SAND
Has the lid finally come off for crude oil tanker demolition in 2021? If judged by the 1.9m DWT of capacity that was removed in September, the answ ...
Friday, 08 October 21
COAL SHORTAGE MAY LEAD TO RISE IN STEEL PRICES IN COMING MONTHS: JSPL MD - PTI
Steel prices are expected to increase in the coming months as companies are buying coal at three times the rates a month ago, said a top industry e ...
Wednesday, 06 October 21
INDONESIA COAL PRICE REFERENCE: ANOTHER MONTH, ANOTHER RALLY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second and third quarters of 2021 as it reached a pinnacle of $161.63 Oc ...
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- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
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