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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 16 January 21
SEABORNE TRADE IN STEAM COAL DECREASED BY 11.6% FROM 937 MILLION TONNES IN 2019 TO 828 MILLION TONNES IN 2020 - COAL IMPORTERS ASSOCIATION, GERMANY
According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), global hard coal production dec ...
Friday, 15 January 21
OVER US$50 BILLION IN GAS POWER PROJECTS AND LNG IMPORT FACILITIES AT RISK OF CANCELLATION IN BANGLADESH, PAKISTAN AND VIETNAM - IEEFA
Pakistan and Bangladesh have already cancelled tenders for LNG imports
Emerging markets such as Vietnam, Pakistan and Bangladesh tha ...
Friday, 15 January 21
VIETNAM'S EXTRAORDINARY ROOFTOP SOLAR SUCCESS DEALS ANOTHER BLOW TO THE REMAINING COAL PIPELINE - IEEFA
9.3 gigawatts peak of solar capacity, equal to 6 coal power plants, installed in less than a year
Vietnam’s solar power indust ...
Friday, 15 January 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 14 January 21
KOREA MIDLAND POWER INVITED BIDS FOR AUSTRALIAN COAL FOR THREE YEARS SUPPLY
COALspot.com: Korea Midland Power Co. Ltd, issued an International tender for total 1,560,000 MT of Min.5,700 kcal/kg NCV coal of Australian Origin ...
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- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- White Energy Company Limited
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Planning Commission, India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
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