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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 29 July 20
2019 U.S. COAL PRODUCTION FALLS TO ITS LOWEST LEVEL SINCE 1978 - EIA
In 2019, U.S. coal production totaled 706 million short tons (MMst), a 7% decrease from the 756 MMst mined in 2018. Last year’s production wa ...
Wednesday, 29 July 20
MARKET INSIGHT - INTERMODAL
The dry bulk sector is beginning to recover from reduced SnP activity recorded in the first quarter of 2020. The table below illustrates that appro ...
Tuesday, 28 July 20
DEUTSCHE BANK TO END GLOBAL BUSINESS ACTIVITIES IN COAL MINING BY 2025 - REUTERS
Deutsche Bank, in a revamp of its policies for fossil fuels, said on Monday that it would end business activities worldwide related to coal mining ...
Monday, 27 July 20
IEEFA ENERGY FINANCE CONFERENCE 2020: COAL, LNG, PETROCHEMICAL SECTORS FACE POOR OUTLOOK AND UPHILL BATTLE FOR INVESTORS
Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic
Three major fossil fuel ...
Friday, 24 July 20
IPA: THERMAL COAL IMPORTS AT MAJOR PORTS DECLINE 35 PC TO 17.71 MT IN APR TO JUNE - ECONOMIC TIMES
These ports had handled 27.13 MT of thermal coal and 14.95 MT of coking coal in the April-June period of the previous financial year
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- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
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