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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- The University of Queensland
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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