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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Monday, 02 November 20
PHILIPPINES GOVERNMENT SAYS NO TO NEW COAL PLANT PROPOSALS - IEEFA | 24 PILIPINAS
The Duterte administration will no longer accept proposals to construct new coal power plants, a dramatic shift in energy policy that counts on dec ...
Sunday, 01 November 20
GRADUAL RECOVERY FOR INDONESIAN COAL FROM 4Q20; RISKS REMAIN - FITCH RATINGS
Fitch Ratings expects the credit metrics of Indonesian coal miners and coal contractors to improve from 4Q20 with the recovery in volumes and price ...
Wednesday, 28 October 20
BIODIESEL - NEW FUELS, NEW CHALLENGES - GARD | DNV GL
KNOWLEDGE TO ELEVATE
One of numerous possible ways to comply with the IMO’s strategy on the reduction of greenhouse gas (GHG) emissions ...
Wednesday, 28 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.94 points Monday, up 0.35 percent week on week.
The index, released by China ...
Tuesday, 27 October 20
PLN STILL REFUSING TO ADAPT, A MOVE WHICH WILL HURT INVESTORS, CONSUMERS, AND THE GOVERNMENT PURSE - IEEFA
Utility’s latest planning report locks PLN into the past
PLN would be better served restructuring its business to address the current en ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
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