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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Saturday, 16 October 21
DESPITE HIGHER COAL PRICES, U.S. COAL RECOVERY LOOKS WEAK BY MOST MEASURES - IEEFA
U.S. coal sector is locked into a long-term sectoral decline
Coal prices have surged to the highest level in years in the U.S., and have soare ...
Saturday, 16 October 21
COAL IS 'KING' AS GAS PRICES SOAR, TOTAL CEO SAYS - AND IT’S BACKFIRING ON CLEANER ENERGY GOALS - CNBC
Surging natural gas prices have led to a jump in coal use, with plants in Europe and Asia firing back up as temperatures decline and the world grap ...
Saturday, 16 October 21
VIETNAM'S COAL-FIRED POWER MAY DOUBLE BY 2030 UNDER DRAFT ENERGY PLAN - REUTERS
Vietnam may double the amount of coal-fired electric generation it installs by 2030 under a draft power development plan submitted to the prime min ...
Friday, 15 October 21
AUSTRALIA'S WHITEHAVEN EXPECTS TO BE DEBT-FREE NEXT YEAR AS COAL PRICES SOAR - REUTERS
Australia’s Whitehaven Coal WHC.AX said on Thursday it expects to be debt-free by early 2022, as thermal coal prices surge to record highs on ...
Friday, 15 October 21
WINTER CHILL KEEPS CHINA'S COAL PRICES HIGH, POWER CRUNCH STOKES INFLATION - REUTERS
China coal prices held near record highs on Thursday as cold weather swept into the country’s north and power plants stocked up on the fuel t ...
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- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- PTC India Limited - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
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