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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 13 January 21
CHINA THERMAL GENCO PROFITS FACE PRESSURE AMID POWER SHORTAGES - FITHCH WIRE
High coal and gas prices will put near-term pressure on margins for thermal power generators in China, says Fitch Ratings. However, the power short ...
Wednesday, 13 January 21
COAL TO BE BIGGEST CONTRIBUTOR TO INDIA'S $5 TRILLION ECONOMY: AMIT SHAH - BUSINESS STANDARD
The Centre on Monday awarded the letter of allocation to successful bidders of coal mines under the commercial auction held during October-November ...
Monday, 11 January 21
MUTED COAL RECOVERY IN 2021 - BALTIC EXCHANGE
Coal demand is expected to rebound in 2021
Medium-term outlook is less favourable although demand declines are expected to be subtle ...
Sunday, 10 January 21
KOREAN GENCOS INVITED BIDS FOR TOTAL 880,000 TONS OF COAL FOR MARCH 2021 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), on behalf of EWP, KOSPO, KOSEP and KOWEPO issued an international tender for total 880 ...
Friday, 08 January 21
INDIA COULD COMPETE AGAINST CHINA IN SOLAR MODULE PRODUCTION WITH THE RIGHT GOVERNMENT SUPPORT - IEEFA
The focus should be on helping manufacturers become globally competitive
Although one of the top 10 solar module producers in the world, India ...
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- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- The University of Queensland
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Australian Coal Association
- Kumho Petrochemical, South Korea
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