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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Friday, 22 October 21
CHINA WANTS TO COOL COAL PRICES. SIMILAR MOVES FOR METALS, CRUDE FAILED - REUTERS
China’s latest attempt to lower runaway commodity prices, this time for thermal coal, is likely to follow a familiar pattern of initial succe ...
Friday, 22 October 21
HARD COAL REMAINS AN IMPORTANT FACTOR FOR SECURITY OF SUPPLY - COAL IMPORTERS ASSOCIATION, GERMANY
- Hard coal remains an important factor for security of supply
- Increase of around 35% in hard-coal-fired power generation in the first three ...
Wednesday, 20 October 21
CHINA'S COAL SHORTAGE TO EASE IN COMING MONTHS, INDUSTRY BODY SAYS - REUTERS
China’s coal shortage will likely ease in coming months, with domestic production and imports already showing signs of picking up, a coal ind ...
Wednesday, 20 October 21
CHINA'S RAW COAL OUTPUT DROPS IN SEPTEMBER - XINHUA
China’s raw coal output dropped 0.9 percent year on year to 330 million tonnes last month, data from the National Bureau of Statistics (NBS) ...
Wednesday, 20 October 21
OVER-RELIANCE ON COAL IN OUR POWER MIX HURTING INDIA - LIVEMINT
In spite of the renewables push, coal still accounts for about 50% of India’s installed power capacity. That means a simultaneous demand and ...
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- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- The University of Queensland
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Indian Energy Exchange, India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
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