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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Tuesday, 04 August 20
KOEN INVITED BIDS FOR TOTAL 900K MT OF MIN 5600 NCV COAL FOR 3 YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 260,000 to 300,000 Tons (MT) min. ...
Tuesday, 04 August 20
THE WORLD’S FLEET OF COAL-FIRED POWER STATIONS HAS GOT SMALLER FOR THE FIRST TIME ON RECORD, WITH MORE CAPACITY RETIRED IN THE FIRST HALF OF 2020 THAN THE AMOUNT OPENED - IEA
This is according to the latest Global Coal Plant Tracker (GCPT) results by Global Energy Monitor (GEM), which we completed last month and report f ...
Monday, 03 August 20
U.S. COAL CONSUMPTION, WHICH HAS DECLINED SINCE ITS 2007 PEAK, FELL TO ITS LOWEST POINT IN APRIL 2020 - EIA
According to the U.S. Energy Information Administration’s (EIA) most recent Monthly Energy Review, the United States consumed 6.5 quadrillion ...
Monday, 03 August 20
LOW OIL PRICE AND CORONA VIRUS HIT SUB-SAHARAN AFRICA OIL PRODUCERS - FITCH RATINGS
The collapse in oil prices and the coronavirus shock is worsening the fiscal and external balances of sub-Saharan African oil producers, Fitch Rati ...
Saturday, 01 August 20
SHIP SHAPE - OUCH: FIS
Thursday afternoon saw a report that US GDP in Q2 shrank by 32.9%. Now this may have beaten expectations, but it’s a bit like saying that you ...
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- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- PTC India Limited - India
- The University of Queensland
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
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