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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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