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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 01 July 20
MARKET INSIGHT - INTERMODAL
It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repa ...
Monday, 29 June 20
INDONESIAN COAL AT THE MERCY OF THE DRAGON AND TIGER - GHEE PEH | IEEFA
Coal sector analysts have been busy in recent months mapping the negative impact of low coal prices from the COVID-19 pandemic on Indonesian coal c ...
Monday, 29 June 20
FALLING DEMAND IN CHINA AND INDIA SIGNAL TOUGH TIMES AHEAD FOR INDONESIAN EXPORTS - GHEE PEH | EEFA
Assessing the Impact on Indonesian Coal Companies
The bad news for Indonesia’s coal companies is that they are likely to have ...
Monday, 29 June 20
INDIA COAL IMPORT OUTLOOK: WEAK DEMAND, IMPORT SUBSTITUTION, EXPECT 20% YOY DECLINE - GHEE PEH | IEEFA
For India, the coal demand indicators have clearly turned negative.
According to Argus Media, since the government declared a ...
Monday, 29 June 20
CHINA COAL IMPORT OUTLOOK: MANY MOVING PARTS, FORECAST TO FALL 10% YOY - GHEE PEH | IEEFA
China’s coal demand declined in the first quarter of 2020. According to the China National Coal Association, the country consumed 870mt in th ...
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- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Minerals Council of Australia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- White Energy Company Limited
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Parliament of New Zealand
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
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