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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Tuesday, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
Friday, 13 November 20
SHIPPING OUTLOOK TURNS STABLE ON EBITDA GROWTH, IMPROVING SUPPLY-DEMAND BALANCE - MOODY’S
Outlook revised to stable from negative.
The global shipping industry is on course to perform better overall than we had previously ex ...
Friday, 13 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 ...
Monday, 09 November 20
INDONESIA MAY CUT BIODIESEL USE TARGET AS SUBSIDY FUND DEPLETES - FITCH
The Indonesian government may rein in its push to increase use of biodiesel as it now comes at higher cost following a fall in crude oil prices and ...
Monday, 09 November 20
SOUTH AFRICA: COAL MARKET CONDITIONS HAVE ' DETERIORATED MATERIALLY' - IEEFA
The Asian seaborne thermal coal pool is drying out
Resource Generation Ltd’s proposed but long delayed Boikarabelo coal mine i ...
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- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
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