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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Tuesday, 22 December 20
INDIA'S COAL DEMAND IS SET TO EXPAND DESPITE PLUMMETING IN 2020 - IEA
Coal consumption in India amounted to 979 Mt in 2019, with the largest share being thermal coal (including lignite) for electricity generation (687 ...
Tuesday, 22 December 20
SOUTHEAST ASIA'S COAL DEMAND IS SET TO EXPAND AFTER THE PANDEMIC-INDUCED HIATUS IN 2020 - IEA
Coal consumption in Southeast Asia has more than doubled in the last decade, with the largest growth in Indonesia and Viet Nam, followed by Malaysi ...
Tuesday, 22 December 20
COAL DEMAND IS RISING QUICKLY IN PAKISTAN AND MORE SLOWLY IN BANGLADESH - IEA
Pakistan had 150 MW of installed coal power capacity in 2015. Since 2017, in addition to a few small plants for industry, Pakistan has commissioned ...
Tuesday, 22 December 20
AFRICA PERSPECTIVE INDICATES NO MAJOR SHIFTS FOR COAL CONSUMPTION - IEA
Overall countries on the African continent consumed 197 Mt of coal in 2019, 12 Mt less (-6%) than 2018.
South Africa, the continent& ...
Monday, 21 December 20
COAL PRICES WITHSTAND DESPITE COVID-19 AND CHINESE IMPORT QUOTAS - IEA
Coal prices vary by region as well as by grade and quality. The price rebound starting in 2016 ended in 2018, moving in a downward trend in 2019. A ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- The University of Queensland
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
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