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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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