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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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Thursday, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, ...
Wednesday, 22 September 21
MARKET INSIGHT - INTERMODAL
The unfolding last week of a trilateral defence pact between the United States, Australia, the United Kingdom (AUKUS) envisages a wide range of col ...
Tuesday, 21 September 21
CHINESE COAL IMPORTS FROM AUSTRALIA DROP 98.6% AS RESTRICTIONS BITE - BIMCO
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian c ...
Tuesday, 21 September 21
CHINA'S COAL OUTPUT RESUMES GROWTH IN AUGUST - XINHUA
China’s raw coal output rose 0.8 percent year on year to 340 million tonnes last month, official data showed.
The growth rate ...
Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed ...
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- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Planning Commission, India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
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