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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 02 December 20
INDONESIA CONSIDERING CLOSING 3,400MW SURALAYA COAL PLANT - THE JAKARTA POST
The government is considering to shut down the aging Suralaya coal-fired power plant (PLTU) in Cilegon, Banten, and replace it with green energy, a ...
Wednesday, 02 December 20
MARKET INSIGHT - INTERMODAL
It has been another busy week in the dry bulk secondhand market; a healthy number of sales reported predominantly from Japanese owners while owner& ...
Thursday, 26 November 20
DECLINE IN COAL EXPORTS ADDS TO NAVAJO-OWNED COMPANY'S PROBLEMS - IEEFA U.S.
Weak demand and low prices are likely creating steep losses for NTEC
U.S. coal exports to Asia—once heralded as the saving gra ...
Thursday, 26 November 20
COAL FINANCING QUICKLY DRYING UP WORLDWIDE - ANALYSTS : REUTERS
Financing for coal projects is drying up at ever increasing rates as more countries target zero carbon emissions amid an energy transition sweeping ...
Wednesday, 25 November 20
LIBOR REPLACEMENT AND SHIP FINANCE - WHERE IS IT HEADING? - WFW
The likely replacement of the LIBOR at the end of 2021 creates difficult technical and practical issues for all sectors of business and finance. Th ...
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- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- The University of Queensland
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
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