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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
Monday, 09 August 21
CHINA COAL INVENTORY THINS AMID PEAK POWER DEMAND- STATE MEDIA : REUTERS
China’s coal inventories have dropped to near historic lows since August due to peak summer electricity demand and transportation bottlenecks ...
Wednesday, 04 August 21
THE INDONESIAN COAL PRICE REFERENCE SURGED TO A FRESH RECORD HIGH OF USD 130.99 A TON IN AUGUST 2021
COALspot.com: The Indonesian Coal Price Reference ( HBA) surged to a fresh record high of USD 130.99 a ton in August 2021.
The ...
Wednesday, 04 August 21
MARKET INSIGHT - INTERMODAL
Unlike the Dry Bulk and Container sectors where freight rates have surged into 2021, the tankers market continues to experience lackluster earnings ...
Sunday, 01 August 21
SEABORNE HARD COAL TRADE IN 2020 DECREASED BY 149 MILLION MT, OR 12.1%, TO 1,083 MILLION MT - GERMAN COAL IMPORTERS ASSOCIATION
- Reduced coal-fired power plant fleet secures Germany’s power supply in severe winter of 2020/2021; little wind availability and hence stron ...
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- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
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