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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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