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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Friday, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Australian Coal Association
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- The University of Queensland
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
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