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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 14 October 20
MARKET INSIGHT - INTERMODAL
The tanker market has experienced severe freight rate and asset value declines over the past 5 months. A potential market upturn may arise in the c ...
Friday, 09 October 20
INDIA'S COAL IMPORTS IMPROVE SOMEWHAT, BUT RECOVERY IS UNEVEN - REUTERS
India’s coal imports, depressed by the impact of coronavirus this year, regained ground in September, but in an uneven uptick – shipmen ...
Thursday, 08 October 20
CHINA'S COAL IMPORTS FROM INDONESIA DECLINED 16.4% Y-O-Y, TO 80.2 MLN TONNES IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
China's coal imports boomed in 2019, surprising many who had expected the government would clamp down strictly on shipments.
...
Thursday, 08 October 20
GLIMMER OF LIGHT FOR COAL, BUT SHORT TERM - FNARENA
Is coal on the rebound? Demand appears stronger and supply reductions have underpinned a tightening market. Certainly, the Newcastle thermal coal p ...
Wednesday, 07 October 20
U.S. COAL PRODUCTION TO DECREASE BY 26 PERCENT IN 2020 COMPARED TO 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 525 million short tons (MMst), compared with 705 MMst in 2019, a 26% decrease.
COVID-19 a ...
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- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Petron Corporation, Philippines
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- The Treasury - Australian Government
- Planning Commission, India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
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