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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
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- PTC India Limited - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- The University of Queensland
- Goldman Sachs - Singapore
- Minerals Council of Australia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- VISA Power Limited - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
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