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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 08 May 21
LNG-TO-POWER INVESTORS IN THE PHILIPPINES RISK EXPOSURE TO $14 BILLION IN STRANDED ASSETS - IEEFA
High regulatory and financial uncertainty in the Philippines market
The race to develop liquified natural gas (LNG) facilities in th ...
Saturday, 08 May 21
THE COAL-TO-RENEWABLES TRANSITION TAKES OFF - IEEFA
Pre-Biden changes underscore coming 10-year wave of coal plant retirements
The traditional S-curve growth exhibited by disruptive te ...
Friday, 07 May 21
CHINA'S TOTAL COAL IMPORTS FOR 2020 REACHED A VOLUME OF 304 MILLION TONS - ASSOCARBONI
Our benchmarks, manufacturing Countries like China, Germany, Japan, India, South Korea and Taiwan will continue to use a mix of coal and nuclear to ...
Friday, 07 May 21
SEABORNE WORLD COAL TRADE CLOSED 2020 IN NEGATIVE - ASSOCARBONI
Coal confirmed its leadership as leading fuel for electricity generation also in 2020, accounting for 38% of overall production. For the first time ...
Friday, 07 May 21
INDONESIA'S THERMAL COAL EXPORTS IN 2020 DECREASED BY 13%; INDIA REMAINED THE TOP DESTINATION FOR INDONESIAN COAL - ASSOCARBONI
An increase in seaborne trade is forecast for 2022, driven by markets in Southeast Asia, where growing demand for coal from Bangladesh, the Philipp ...
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- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- The University of Queensland
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
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