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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 25 November 20
DRY BULK SHIPPING: CHINA REMAINS THE DRIVING FACTOR, BUT COAL POLICY IS DISRUPTING THE MARKET - PETER SAND, BIMCO
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-e ...
Wednesday, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- The University of Queensland
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Australian Coal Association
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
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