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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 29 September 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.73 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.91 points Monday, up 0.73 percent week on week.
The index, released by China ...
Tuesday, 29 September 20
SHIPPING MARKET - ALLIED
Here we are, just a short breath before the final quarter of the year, and many are now debating to what extent we can really expect a firm dry bul ...
Tuesday, 29 September 20
INDONESIAN COAL COMPANIES' EARNINGS TO WEAKEN IN 2H20 - FITCH RATINGS
Rated Indonesian coal miners and contractors will have weaker operating and financial performances in the second half of 2020 than in the first, sa ...
Tuesday, 29 September 20
RUSSIA'S COAL PRODUCTION TO DROP BY 10.5% IN 2020, SAYS MINISTRY - TASS
Russia’s Economic Development Ministry projects a 10.5% decrease in coal production in the country in 2020 compared with last year to 395 mln ...
Monday, 28 September 20
NEW LNG PROJECTS - ALL DRESSED UP AND NO PLACE TO GO - WOOD MACKENZIE
It was meant to be another boom year. After a record 70 mmtpa of new LNG capacity was sanctioned in 2019, at least as much capacity was lined up fo ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- White Energy Company Limited
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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