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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 26 October 21
CHINA'S COAL-RICH SHANXI BEEFS UP COAL PRODUCTION - XINHUA
Major coal producers in north China’s Shanxi Province, a leading coal-producing region of the country, have beefed up production to ensure en ...
Tuesday, 26 October 21
ENERGY CRISIS SHOWS COAL IS AN EXPENSIVE AND UNRELIABLE SOURCE OF ELECTRICITY GENERATION - IEEFA
Any knee-jerk reaction that urges more investment in coal completely misses the point
India is teetering on the brink of joining a growing glo ...
Tuesday, 26 October 21
CHINA TO INVESTIGATE ENERGY INDEX PROVIDERS IN BID TO TAME COAL PRICES - REUTERS
China said on Monday it will investigate energy price index providers as it urged coal industry participants to “strictly” meet contrac ...
Tuesday, 26 October 21
THERE IS PLENTY OF COAL AND GAS IN THE WORLD BUT A VOLATILE MARKET IS NOBODY'S FRIEND - IEEFA
Gas will be winding its way out of the energy system
Gas prices are continuing to surge around the world. The cost of gas is at unpr ...
Tuesday, 26 October 21
AUSTRALIA EXPORTED 51.6 MLN TONNES OF COAL TO INDIA IN FIRST 10 MONTHS, 19% OF ALL AUSTRALIAN COAL EXPORTS; CHINA WAS THE DESTINATION FOR JUST 0.7% - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. In 2021 things started pretty badly, but we are seeing increasing signs of ...
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- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Australian Coal Association
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
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