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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Monday, 24 August 20
A COMBINATION OF DEVELOPMENTS DROVE THE FALLOFF COAL PRICES - CHIEF ECONOMIST’ OFFICE, AUSTRALIA
China, rising domestic production combined with subdued power demand;
India, a lockdown coupled with government directives that fav ...
Monday, 24 August 20
AUSTRALIA'S THERMAL COAL EXPORTS ARE FORECAST TO DROP FROM AN ESTIMATED $20 BILLION IN 2019-20 TO $16 BILLION IN 2020-21: REPORT
Thermal coal spot prices have fallen sharply as the impact of COVID-19 drives a contraction in seaborne trade for only the second time this century ...
Saturday, 22 August 20
REPORT SEES INDIA’S RELIANCE ON THERMAL POWER DROPPING TO 50% IN 2021, 43% IN 2026 - ET ENERGY | IEEFA
India’s dependence on thermal power will reduce to 50 per cent by 2021-22 and 43 per cent by 2026-27 on the back of renewable energy (RE) cap ...
Friday, 21 August 20
323 MILLION ELECTRIC VEHICLES WILL BE ON THE ROADS BY 2040 - WOOD MACKENZIE
Electric vehicle (EV) sales are expected to reach 45 million units per year by 2040, with a total global EV stock of 323 million, according to new ...
Friday, 21 August 20
BHP COMMITS TO SELLING ITS THERMAL COALMINES WITHIN TWO YEARS - THE GUARDIAN
Move follows pressure from investors but company stops short of full exit from coalmining
BHP has announced it plans to sell off its ...
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- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Indika Energy - Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
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