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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Wednesday, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
Wednesday, 10 February 21
MARKET INSIGHT - INTERMODAL
We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of ...
Tuesday, 09 February 21
SWITCHING COAL PLANTS TO PLN'S BIOMASS COFIRING PLAN IS NO MAGIC BULLET - IEEFA
Implementation risks for Indonesia PLN's switch from coal to biomass cofiring
PLN’s biomass cofiring plan will require not ...
Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
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- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
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