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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 02 September 20
INDONESIA COAL PRICE REFERENCE DIVES FURTHER IN SEPTEMBER DUE TO SUBDUED DEMAND & GLOBAL OVERSUPPLY
Subdued demand & global oversupply pushed down this month's HBA
COALspot.com: The Indonesia Coal Price Reference ...
Tuesday, 01 September 20
WHY INDIA CAN'T MATCH THE GULF REGION'S RECORD-LOW SOLAR TARIFFS - IEEFA
5-10% annual decline in tariffs estimated for the next decade
A number of countries in the Gulf region have set record-low prices for solar in ...
Tuesday, 01 September 20
COVID-19 PUSHES US LNG INTO A TIGHT SPOT - DREWRY
The pandemic-led weak projections for economic growth will derail US LNG exports in full-year 2020 with the country also losing ground in the long ...
Monday, 31 August 20
DEFECTIVE PASSAGE PLANNING: UNSEAWORTHINESS OR A NAVIGATIONAL DECISION? THE CMA CGM LIBRA QUESTION SAILS ON TO THE UK SUPREME COURT - GARD
KNOWLEDGE TO ELEVATE
The UK Supreme Court has granted leave to appeal the recent decision in Alize 1954 v Allianz Elementar Versicherungs AG ( ...
Sunday, 30 August 20
PANAMAX - THIS WEEK THE DEMAND HAS PICKED UP, BUT THE TONNAGE LIST IS INCREASING DAY BY DAY - FEARNLEYS
Cape Size
More or less flat from previous week, with cape rates moving from US$ 19,500 to 18,900 on average. West Australia however being more ...
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- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
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