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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 09 July 21
CAN WE EXPECT AFFORDABLE POWER SUPPLY BY REPLACING COAL BASED POWER WITH LNG? - FINANCIAL EXPRESS
Bangladesh government’s recent decision to cancel the contracts for 10 coal fired power plants in late June 2021 has invited interest in the ...
Thursday, 08 July 21
STRONGEST HALF YEAR FOR SHIPPING MARKETS SINCE 2008 - CLARKSONS
A year on from peak trade disruption, we update our half year report for the shipping industry profiling a strong recovery and some exceptional ind ...
Tuesday, 06 July 21
INDONESIA COAL PRICE REFERENCE RISES TO 112 MONTHS HIGH IN JULY 2021; 121.15% HIGHER COMPARED TO THAT IN JULY 2020 PRICE
COALspot.com: The Indonesia coal price reference for July 2021 fixed at US$ 115.35 per ton FOB vessel.
The Indonesia coal price referenc ...
Tuesday, 06 July 21
INDONESIAN COAL EXPORTS FELL BY 37% YOY IN 1Q21 DUE TO ADVERSE WEATHER CONDITIONS - FITCH RATINGS
Chinese coal imports declined by 25% yoy in 5M21as a result of both restrictions on Australian coal and the high base in 2020. Import volume in Jan ...
Tuesday, 06 July 21
INDONESIAN 4,200 INDEX HAS ALSO INCREASED TO OVER USD50 PER TONNE SINCE MAY THIS YEAR REFLECTING STRONG CHINESE IMPORT DEMAND - FITCH RATINGS
Price Surge Since March
APAC thermal coal has resumed its price surge since March this year. The benchmark Newcastle 6,000kcal/kg grade c ...
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- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
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