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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Thursday, 17 December 20
CHINA'S BAN IS LESS OF A THREAT TO AUSTRALIA'S COAL INDUSTRY THAN INTERNATIONAL CLIMATE AMBITION - IEEFA
Australian coal exporters will survive this near-term political fight but there are longterm structural headwinds
The decision by Ch ...
Thursday, 17 December 20
BUMA SIGNED US$1.0 BILLION WORTH OF EXTENSION CONTRACT WITH BERAU COAL
PT Bukit Makmur Mandiri Utama, subsidiary of PT Delta Dunia Makmur Tbk., has extended its mining services contracts with PT Berau Coal, in relation ...
Wednesday, 16 December 20
INDONESIA 2020 COAL CONSUMPTION ESTIMATED AT 140-145 MLN TONNES - OFFICIAL, REUTERS REPORTED
Indonesia’s domestic coal consumption is estimated at 140-145 million tonnes this year, Dodik Ariyanto, an official at the energy ministry, t ...
Wednesday, 16 December 20
RUSSIA REVISES DOWN EXPORT EXPECTATION - FITCH
The Ministry of Economy of Russia, the world’s third largest thermal coal exporting country, released its annual forecasts ...
Wednesday, 16 December 20
INDIAN COAL IMPORTS TO REMAIN SUBDUED - FITCH RATINGS
Fitch Rating commented on Indian Coal Imports, Fitch said, coal imports by Indian utilities fell by about 24% yoy to 44 million tonnes (mt) i ...
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- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- The University of Queensland
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Planning Commission, India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Posco Energy - South Korea
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
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