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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 25 November 20
DRY BULK SHIPPING: CHINA REMAINS THE DRIVING FACTOR, BUT COAL POLICY IS DISRUPTING THE MARKET - PETER SAND, BIMCO
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-e ...
Wednesday, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
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- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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