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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Saturday, 29 August 20
COAL INDIA'S FUEL SUPPLY TO POWER SECTOR DROPS ABOUT 20% IN APR-JUL: PTI
State-owned Coal India”s fuel supply to the power sector registered a decline of 19.5 per cent to 126.30 million tonnes (MT) in the April-Jul ...
Saturday, 29 August 20
SOUTH KOREAN BROKERAGE FIRM KOREA INVESTMENT & SECURITIES TO STOP ALL COAL BUSINESS - KOREA HERALD
South Korean brokerage firm Korea Investment & Securities has decided to stop its investments in coal, in line with the Moon Jae-in administrat ...
Thursday, 27 August 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 985,000 TONS OF BITUMINOUS COAL FOR NOVEMBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 985,000 ...
Thursday, 27 August 20
SOUTHEAST ASIAN NATIONS SET REGION-WIDE RENEWABLE ENERGY GOAL OF 23 PERCENT BY 2025 - ASEAN POST
The Association of Southeast Asian Nations (ASEAN) has set an ambitious target of securing 23 percent of its primary energy from renewable so ...
Thursday, 27 August 20
BANGLADESH POWER MINISTRY SEEKING AUTHORITY TO CANCEL 13,000 MW OF PROPOSED COAL-FIRED CAPACITY - BUSINESS STANDARD
In a bid to move away from dirty energy, the Ministry of Power, Energy and Mineral Resources is seeking the prime minister’s approval to conv ...
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- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
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