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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 14 December 20
PHILIPPINE BANK RCBC TO STOP LENDING FOR NEW COAL-FIRED POWER PROJECTS - MANILA BULLETIN
Yuchengco-led Rizal Commercial Banking Corporation (RCBC) has forthrightly declared that it will no longer extend financing to new coal-fired power ...
Sunday, 13 December 20
LONGSTANDING DOWNSIDE RISKS TO TRADE OUTLOOK - BALTIC EXCHANGE
The OECD has attempted to put a positive spin on the trade message emanating from its latest economic outlook, released last week.
The ...
Sunday, 13 December 20
INDONESIA COAL OUTPUT AT 514 MILLION TONNES THIS YEAR, 2021 TARGET UNCHANGED - REUTERS
Indonesia coal output in the period to Dec. 10 stood at 514.2 million tonnes, official data from the energy ministry’s website showed.
&n ...
Thursday, 10 December 20
MALAYSIA'S CIMB ANNOUNCES COAL FINANCING PHASE-OUT BY 2040 AS ASIA'S FOSSIL FUEL DIVESTMENT DRIVE ACCELERATES - IEEFA
The first emerging markets bank to announce a progressive coal exit policy
Malaysia’s CIMB Group Holdings (CIMB) has announced ...
Wednesday, 09 December 20
MARKET INSIGHT - INTERMODAL
Heading towards the end of a difficult year and with the entire planet under the shadow of the covid-19 virus, it is interesting to proceed with a ...
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- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Medco Energi Mining Internasional
- Planning Commission, India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
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