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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Friday, 18 September 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 17 September 20
LAST HOPES FOR DEMAND GROWTH SET TO DISAPPOINT THERMAL COAL EXPORTERS - IEEFA
Asian thermal coal exporters are fighting an uphill battle even in new markets
The world’s largest thermal coal exporter is eyeing new m ...
Wednesday, 16 September 20
MARKET INSIGHT - INTERMODAL
Another active week in terms of SnP has concluded in the dry bulk market with a diversified array of transactions recorded. Despite the correction ...
Friday, 11 September 20
IMO 2020: A REVIEW OF THE TRANSITION TO VLSFOS - GARD
KNOWLEDGE TO ELEVATE
Many predictions were made in the run up to the imposition of the MARPOL 2020 sulphur cap, none of which was that the tra ...
Thursday, 10 September 20
U.S. COAL PRODUCTION IN 2020 TO BE 511 MMST, 28 PER CENT LOWER THAN IN 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 511 million short tons (MMst), 194 MMst (28%) lower than in 2019. Mitigation efforts related t ...
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- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
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