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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Tuesday, 22 December 20
INDIA'S COAL DEMAND IS SET TO EXPAND DESPITE PLUMMETING IN 2020 - IEA
Coal consumption in India amounted to 979 Mt in 2019, with the largest share being thermal coal (including lignite) for electricity generation (687 ...
Tuesday, 22 December 20
SOUTHEAST ASIA'S COAL DEMAND IS SET TO EXPAND AFTER THE PANDEMIC-INDUCED HIATUS IN 2020 - IEA
Coal consumption in Southeast Asia has more than doubled in the last decade, with the largest growth in Indonesia and Viet Nam, followed by Malaysi ...
Tuesday, 22 December 20
COAL DEMAND IS RISING QUICKLY IN PAKISTAN AND MORE SLOWLY IN BANGLADESH - IEA
Pakistan had 150 MW of installed coal power capacity in 2015. Since 2017, in addition to a few small plants for industry, Pakistan has commissioned ...
Tuesday, 22 December 20
AFRICA PERSPECTIVE INDICATES NO MAJOR SHIFTS FOR COAL CONSUMPTION - IEA
Overall countries on the African continent consumed 197 Mt of coal in 2019, 12 Mt less (-6%) than 2018.
South Africa, the continent& ...
Monday, 21 December 20
COAL PRICES WITHSTAND DESPITE COVID-19 AND CHINESE IMPORT QUOTAS - IEA
Coal prices vary by region as well as by grade and quality. The price rebound starting in 2016 ended in 2018, moving in a downward trend in 2019. A ...
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- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Australian Coal Association
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- MS Steel International - UAE
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
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