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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
Wednesday, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
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- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Australian Coal Association
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- The University of Queensland
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
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