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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Monday, 11 October 21
COAL ABANDONMENT IN POWER GENERATION PROMOTED GAS DEMAND GROWTH IN EUROPE - TOP MANAGER: TASS
Accelerated abandonment of coal in power generation and the overall recovery of economic activity facilitated gas demand growth in Europe and led t ...
Saturday, 09 October 21
CHINA POWER CUTS: COAL MINERS ORDERED TO BOOST OUTPUT, SAY REPORTS - BBC
Beijing has reportedly ordered China’s coal mines to boost output as an energy shortage across the country has seen millions of homes and bus ...
Friday, 08 October 21
SEPTEMBER CRUDE OIL TANKER DEMOLISHING HITS 39-MONTHS HIGH AT 1.9M DWT - PETER SAND
Has the lid finally come off for crude oil tanker demolition in 2021? If judged by the 1.9m DWT of capacity that was removed in September, the answ ...
Friday, 08 October 21
COAL SHORTAGE MAY LEAD TO RISE IN STEEL PRICES IN COMING MONTHS: JSPL MD - PTI
Steel prices are expected to increase in the coming months as companies are buying coal at three times the rates a month ago, said a top industry e ...
Wednesday, 06 October 21
INDONESIA COAL PRICE REFERENCE: ANOTHER MONTH, ANOTHER RALLY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second and third quarters of 2021 as it reached a pinnacle of $161.63 Oc ...
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- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Australian Coal Association
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
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