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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 16 December 20
CHINA TO BOOST DOMESTIC SUPPLY - FITCH
China’s benchmark Qinhuangdao 5,500kcal/kg coal price rose above the government’s upper yellow interval of CNY600/tonne in early Octobe ...
Wednesday, 16 December 20
INDONESIAN COAL RECOVERING - FITCH
Commenting on Indonesian coal, Fitch Ratings, the Indonesian 4,200 kcal index has begun to recover, improving to over USD 29 in November compared t ...
Tuesday, 15 December 20
NEWCASTLE PRICES RECOVER - FITCH
Prices for the benchmark Newcastle 6,000 kcal/kg grade coal have rebounded to over USD 70/tonne since late November as major Asian economies ease l ...
Tuesday, 15 December 20
APAC COAL PRICES REBOUND ON IMPROVED DEMAND AND SUPPLY CUTS - FITCH RATINGS
Prices for the benchmark Newcastle 6,000kcal/kg grade coal have rebounded to over USD70/tonne since late November as major Asian economies ease loc ...
Tuesday, 15 December 20
CHINA EXTENDS FULL OPEN GESTURE TO IMPORTED COAL EXCEPT FOR AUSTRALIA - GLOBAL TIMES
Domestic, overseas suppliers will take up share with easier clearance
China's top economic planner on Saturday gave approval to ...
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- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Minerals Council of Australia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
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