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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Friday, 06 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, 05 November 20
THE INDONESIA COAL PRICE REFERENCE RISES FOR SECOND CONSECUTIVE MONTH
COALspot.com: The Indonesia Coal Price Reference rose for a 2nd month by 9.24% month on month. The Indonesia Coal Price Reference for the month of ...
Wednesday, 04 November 20
PHILIPPINES COAL MORATORIUM HIGHLIGHTS DRAMATIC PIVOT TO RENEWABLE ENERGY INVESTMENT FOR LOWER PRICES AND POWER SYSTEM RESILIENCE - IEEFA
Policymakers and industry leaders ready to embrace new energy technologies
The Department of Energy’s call for a moratorium on ...
Wednesday, 04 November 20
FOREIGN INVESTORS FACE TOUGH TIMES CLOSING VIETNAM’S REMAINING COAL POWER DEALS - IEEFA
Project bankability at risk as new regulations threaten usual contractual terms
Foreign investors will face higher-than-usual risks ...
Wednesday, 04 November 20
MARKET INSIGHT - INTERMODAL
As the end of the year approaches, one would definitely notice that the newbuilding orderbook for bulk carriers is significantly smaller compared t ...
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- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
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