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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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
MARKET INSIGHT - INTERMODAL
Over 90% of the world’s goods are transported by sea. LPG is a clean, energy efficient and portable fuel that is being marketed at an afforda ...
Friday, 20 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 19 November 20
MARKET INSIGHT - INTERMODAL
As we are moving towards the end of the year, the overall deal landscape of the dry bulk sector corresponding to the second half of 2020 (up to dat ...
Tuesday, 17 November 20
COAL SQUEEZE INTENSIFIES - BALTIC EXCHANGE
The message from the top is clear: cut out coal. While the regulatory pressure has been evident for some time, the race to banish the black stuff s ...
Tuesday, 17 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 128.72 points Monday, up 0.35 percent week on week.
The index, released by China ...
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- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Planning Commission, India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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