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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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