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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 23 January 21
GOVT PLANNING TO OPEN UP COAL MARKETING TO STREAMLINE PROCESS - THE INDIAN EXPRESS
The government is considering opening up coal marketing, Coal Secretary Anil Kumar Jain said on Thursday. Currently, production by Coal India is al ...
Thursday, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
The LNG market started 2021 on a high note with Asian spot prices crossing $30 per MMBtu while LNG shipping rates recorded a high $350k per day due ...
Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
Despite the moderate rebound in temperatures across most regions of China after late December’s deep-freeze, thermal coal prices in the count ...
Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
...
Wednesday, 20 January 21
MARKET INSIGHT - INTERMODAL
While 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even s ...
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- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Aditya Birla Group - India
- Indogreen Group - Indonesia
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