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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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
MARKET INSIGHT - INTERMODAL
Over 90% of the world’s goods are transported by sea. LPG is a clean, energy efficient and portable fuel that is being marketed at an afforda ...
Friday, 20 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 19 November 20
MARKET INSIGHT - INTERMODAL
As we are moving towards the end of the year, the overall deal landscape of the dry bulk sector corresponding to the second half of 2020 (up to dat ...
Tuesday, 17 November 20
COAL SQUEEZE INTENSIFIES - BALTIC EXCHANGE
The message from the top is clear: cut out coal. While the regulatory pressure has been evident for some time, the race to banish the black stuff s ...
Tuesday, 17 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 128.72 points Monday, up 0.35 percent week on week.
The index, released by China ...
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- Posco Energy - South Korea
- Agrawal Coal Company - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- VISA Power Limited - India
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