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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Thursday, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
Wednesday, 05 August 20
SLUMP IN OIL REVENUE CHALLENGES MIDDLE EAST OIL EXPORTERS - INTERMODAL
The Covid-19 pandemic has had far-reaching consequences on the global capital markets. Despite the US government’s efforts for a quick and de ...
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- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
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