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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 02 December 20
INDONESIA CONSIDERING CLOSING 3,400MW SURALAYA COAL PLANT - THE JAKARTA POST
The government is considering to shut down the aging Suralaya coal-fired power plant (PLTU) in Cilegon, Banten, and replace it with green energy, a ...
Wednesday, 02 December 20
MARKET INSIGHT - INTERMODAL
It has been another busy week in the dry bulk secondhand market; a healthy number of sales reported predominantly from Japanese owners while owner& ...
Thursday, 26 November 20
DECLINE IN COAL EXPORTS ADDS TO NAVAJO-OWNED COMPANY'S PROBLEMS - IEEFA U.S.
Weak demand and low prices are likely creating steep losses for NTEC
U.S. coal exports to Asia—once heralded as the saving gra ...
Thursday, 26 November 20
COAL FINANCING QUICKLY DRYING UP WORLDWIDE - ANALYSTS : REUTERS
Financing for coal projects is drying up at ever increasing rates as more countries target zero carbon emissions amid an energy transition sweeping ...
Wednesday, 25 November 20
LIBOR REPLACEMENT AND SHIP FINANCE - WHERE IS IT HEADING? - WFW
The likely replacement of the LIBOR at the end of 2021 creates difficult technical and practical issues for all sectors of business and finance. Th ...
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- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
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