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Wednesday, 28 October 20
MARKET INSIGHT - INTERMODAL
 The global strive towards eco-friendliness and environmental sustainability in the shipping industry is mounting. There are currently almost 200 countries which are nearing an agreement on commitments aimed at reducing pollutant emissions in commercial shipping as part of the international effort to tackle climate change. Since 2018, ongoing negotiations have materialized under the umbrella of the UN and the International Maritime Organization (IMO), which have been primarily aimed at finding a common ground on how shipping as a whole will reduce its GHG and toxic emissions. From containers to tankers, the industry is in search of a way forward which will encompass a level playing field for all involved stakeholders.
Currently, the main area of conflict among negotiators is the method and severity via which sanctions will be imposed in the event(s) of non-compliance to established and agreed emission benchmarks. European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth. Other countries, such as China and Japan, consider Europe's proposals to be too strict and recommend mechanisms for imposing fines or sanctions in the event of non-compliance with environmental regulations.
On the other hand, organizations such as the MEPC are seeking to and advocating for the imposition of even more stringent measures than the current ones. This is because they believe that shipping emissions will continue to rise in the coming years. The elevated market and investment uncertainty caused by looming regulatory restrictions coupled with the COVID-19 pandemic have significantly slowed down global seaborne trade. According to the IESC report, the pace of international economic activity remained sluggish throughout 2019, but in 2020 the data changed dramatically due to the COVID-19 epidemic. The World Trade Organization (WTO) predicts that global trade is expected to decrease by approximately 20% in 2020. Many shipping sectors have been faced with a sudden and sharp drop in demand, which in turn has significantly affected fares and revenues. In the dry bulk sector, average daily revenues between January and April 2020, compared to 2019, were lowered by more than 85%, 40% and 35% for Capesize, Panamax and Supramax vessels respectively.
Lockdowns in Europe and North America have had a significant impact on employment rates. The International Monetary Fund has announced that the COVID-19 pandemic will likely push the global economy into a worse recession than that of the 1930s and is warning that the prospects for a global recovery are extremely uncertain. The downturn in shipping is projected to last for more than a year and shipping activity is not expected to improve in the coming months. Given that shipping is a global industry, the decrease in its performance is also due to the fact that much of its active is in the southern hemisphere, where major raw material exporting countries, such as Brazil, are being significantly and adversely affected by the COVID-19 Pandemic. It remains to be seen whether the potential release of a new vaccine in the coming winter months will spark the commencement of a recovery phase in the maritime sector. Moreover, it will be interesting to see whether and to what extent the imposition of more rigorous emission regulations will affect the industry’s much needed recovery.
By Zisis Stylianos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
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, 13 August 21
INDONESIA’S COAL EXPORTS TO JAPAN DECLINED BY -26.3% YOY TO 11.9 MLN TONNES IN THE FIRST 7 MONTHS OF 2021; STILL THE SECOND LARGEST SOURCE FOR JAPAN’S COAL IMPORTS IS INDONESIA - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. Total global loadings in the 12 months of 2020 were down -12.7% year-on-yea ...
Thursday, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
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 a ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
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- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- The University of Queensland
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
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