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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Saturday, 26 June 21
KOSPO INVITED BIDS FOR 480,000 MT OF COAL PER ANNUM
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 480,000 MT of NCV 1 Min. 5,600 (Spec 1) /Min. 5,0 ...
Thursday, 24 June 21
FEBRUARY'S INCREASE IN COAL-FIRED ELECTRIC GENERATION REDUCED U.S. COAL STOCKPILES - EIA
Coal stockpiles at U.S. power plants decreased significantly from December 2020 to February 2021, including a draw of nearly 16 million tons in Feb ...
Wednesday, 23 June 21
MARKET INSIGHT - INTERMODAL
The first half of 2021 has brought a very sharp and continued recovery in the dry bulk market and while many where expecting a relatively strong ma ...
Thursday, 17 June 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR GLOBAL SEABORNE COAL TRADE; CHINA'S COAL IMPORTS - 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 ...
Thursday, 17 June 21
FITCH RATINGS RAISES SHORT-TERM OIL AND GAS PRICE ASSUMPTIONS
Fitch Ratings has increased its 2021 and 2022 oil price assumptions for the Brent and West Texas Intermediate (WTI) benchmarks due to stronger year ...
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- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Parliament of New Zealand
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- White Energy Company Limited
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
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