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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 21 December 20
COAL'S PARTIAL RECOVERY IS SET TO FADE AFTER 2021 - IEA
Global coal consumption is estimated to have fallen by 7%, or over 500 million tonnes, between 2018 in 2020. A decline of this size over a two-year ...
Monday, 21 December 20
A REBOUND IN GLOBAL COAL DEMAND IN 2021 IS SET TO BE SHORT-LIVED, BUT NO IMMEDIATE DECLINE IN SIGHT - IEA
After a major drop in recent years, global coal demand is forecast to rise by 2.6% in 2021 before flattening out to 2025
A global ec ...
Friday, 18 December 20
AUSTRALIA PM WARNS OF ‘LOSE-LOSE’ IN ANY CHINA COAL SHIFT - REUTERS
Australian Prime Minister Scott Morrison said any shift by China away from importing high quality Australian coal would be a “lose-lose&rdquo ...
Friday, 18 December 20
BIG OIL AND COAL EXPORTERS FACE RECKONING AS PARIS AGREEMENT TURNS FIVE - CNA
On Dec 12, more than 70 global leaders came together at the UN’s Climate Ambition Summit, marking the fifth anniversary of the Paris Agreemen ...
Friday, 18 December 20
SOUTH AFRICAN COAL EXPORTERS LARGELY DEPENDENT ON THE ASIAN MARKETS - BANCHERO COSTA
South Africa is the fourth largest exporter of coal in the world, after Australia, Indonesia and Russia. In calendar 2019 the country exported a to ...
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- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
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