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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 12 March 21
INDIA SHOULD FOCUS ON REDUCING COAL POWER GENERATION INSTEAD OF CAPACITY - IEEFA
Nearly half of existing coal power in India is more expensive than new renewable power
To get to its ambitious climate targets, Indi ...
Friday, 12 March 21
BATTERIES ARE REPLACING COAL NOT GAS - IEEFA
No amount of government subsidies can halt gas’s decline
Batteries are replacing coal not gas.
Today the early ...
Friday, 12 March 21
RENEWABLES SHOULD BE FOCUS OF VIETNAM’S DRAFT PDP8, NOT COAL AND GAS - IEEFA
Evidence was clear to inform the next stage of Vietnam’s power development
Vietnam’s recently published draft power deve ...
Thursday, 11 March 21
U.S. TO PRODUCE 581 MMST IN 2021, UP 8% FROM 2020 - EIA
EIA expects U.S. coal production to total 581 MMst in 2021, 42 MMst (8%) more than in 2020. In 2022, EIA expects coal production to rise by a furth ...
Thursday, 11 March 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during the first months of 2021, we have come across a new era in which Owners chose the shipyards to repair their ...
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- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Parliament of New Zealand
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
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