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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
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- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
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