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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 23 June 20
COVID-19 COULD CAUSE A BOOM IN COAL POWER - RYSTAD ENERGY | OILPRICE
COVID-19 has not only impacted the energy industry’s revenues but also its infrastructure development.
The delay of new natural gas ...
Tuesday, 23 June 20
CHINA'S COAL OUTPUT UP 0.9 PCT IN JANUARY-MAY: XINHUA
Output of raw coal in China rose 0.9 percent year on year to 1.47 billion tonnes in the first five months of this year, official data showed.
& ...
Monday, 22 June 20
KAMSARMAX TYPES REGULARLY HIT THE $9,000 PER DAY LEVEL FOR INDONESIAN COAL RUN TO CHINA, BALTIC BRIEFING SAYS
Capesize
The Capesize market trajectory this week has been one of the steepest rallies the sector has experienced. Opening at $12,410, the sect ...
Saturday, 20 June 20
WORLD OIL DEMAND IS PROJECTED TO DECREASE BY 9.1 MB/D IN 2020 - OPEC
Crude Oil Price Movements
Spot crude oil prices rebounded in May from low levels registered a month earlier, as physical market fundamentals im ...
Saturday, 20 June 20
NO ESCAPING GLOBAL TRADE SLUMP - BALTIC EXCHANGE
Those hoping for a decent recovery in trade in the second half of the year should prepare for disappointment.
New data from the Unit ...
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- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Planning Commission, India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
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