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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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