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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Monday, 02 November 20
PHILIPPINES GOVERNMENT SAYS NO TO NEW COAL PLANT PROPOSALS - IEEFA | 24 PILIPINAS
The Duterte administration will no longer accept proposals to construct new coal power plants, a dramatic shift in energy policy that counts on dec ...
Sunday, 01 November 20
GRADUAL RECOVERY FOR INDONESIAN COAL FROM 4Q20; RISKS REMAIN - FITCH RATINGS
Fitch Ratings expects the credit metrics of Indonesian coal miners and coal contractors to improve from 4Q20 with the recovery in volumes and price ...
Wednesday, 28 October 20
BIODIESEL - NEW FUELS, NEW CHALLENGES - GARD | DNV GL
KNOWLEDGE TO ELEVATE
One of numerous possible ways to comply with the IMO’s strategy on the reduction of greenhouse gas (GHG) emissions ...
Wednesday, 28 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.94 points Monday, up 0.35 percent week on week.
The index, released by China ...
Tuesday, 27 October 20
PLN STILL REFUSING TO ADAPT, A MOVE WHICH WILL HURT INVESTORS, CONSUMERS, AND THE GOVERNMENT PURSE - IEEFA
Utility’s latest planning report locks PLN into the past
PLN would be better served restructuring its business to address the current en ...
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- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
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