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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 12 August 20
U.S. COAL PRODUCTION IN 2020 WILL DECREASE BY 29% FROM 2019 LEVELS TO 502 MMST - EIA
U.S. coal consumption, which dropped to its lowest point since April, totaled 95 MMst in the second quarter of 2020.
EIA expec ...
Tuesday, 11 August 20
BHP COAL ASSETS WORTH A BILLION LESS THAN JUST TWO YEARS AGO - IEEFA
Another global investor, the UK’s biggest public pension fund NEST, has withdrawn funds from BHP this week because the company is profiting & ...
Monday, 10 August 20
COAL IMPORT DROPS 43% IN JULY OWING TO HIGH STOCKPILE AT PITHEADS, PLANTS - PTI
“The market participants seem to have adopted a wait and watch approach and are currently looking for a direction. We do not expect to see an ...
Saturday, 08 August 20
GLOBAL COAL POWER PUZZLE - BALTIC EXCHANGE
Global Energy Monitor’s latest Global Coal Plant Tracker has put another nail in the coffin for the coal-carrying fleet with its finding that ...
Friday, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
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- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Economic Council, Georgia
- GMR Energy Limited - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
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