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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Wednesday, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand f ...
Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
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- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Planning Commission, India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- PTC India Limited - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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