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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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Tuesday, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
Monday, 27 September 21
CHINESE COAL FIRMS MEET TO ADDRESS WINTER SUPPLY CHALLENGES - CNBC
Major Chinese coal producers are trying to resolve supply shortages and curb price rises as the country’s winter consumption peak approaches, ...
Saturday, 25 September 21
HIGH STAKES FOR ASIAN DEVELOPMENT BANK’S AMBITIOUS COAL POWER RETIREMENT PLAN - IEEFA
Implementation challenges could block funding for other equally important high impact clean energy funding strategies
In the lead up ...
Thursday, 23 September 21
LONGER COAL CONTRACTS MAY REIN IN PRICES - ECNS
In China’s coal sector that has been marred recently by price surges, regional authorities and related enterprises should ensure the fuel con ...
Thursday, 23 September 21
BALTIC INDEX HITS 12-YEAR PEAK ON FIRMER VESSELS RATES - REUTERS
The Baltic Exchange’s main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rat ...
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- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Australian Coal Association
- Coalindo Energy - Indonesia
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