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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Thursday, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...
Thursday, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
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- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Australian Coal Association
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
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