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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 14 October 20
MARKET INSIGHT - INTERMODAL
The tanker market has experienced severe freight rate and asset value declines over the past 5 months. A potential market upturn may arise in the c ...
Friday, 09 October 20
INDIA'S COAL IMPORTS IMPROVE SOMEWHAT, BUT RECOVERY IS UNEVEN - REUTERS
India’s coal imports, depressed by the impact of coronavirus this year, regained ground in September, but in an uneven uptick – shipmen ...
Thursday, 08 October 20
CHINA'S COAL IMPORTS FROM INDONESIA DECLINED 16.4% Y-O-Y, TO 80.2 MLN TONNES IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
China's coal imports boomed in 2019, surprising many who had expected the government would clamp down strictly on shipments.
...
Thursday, 08 October 20
GLIMMER OF LIGHT FOR COAL, BUT SHORT TERM - FNARENA
Is coal on the rebound? Demand appears stronger and supply reductions have underpinned a tightening market. Certainly, the Newcastle thermal coal p ...
Wednesday, 07 October 20
U.S. COAL PRODUCTION TO DECREASE BY 26 PERCENT IN 2020 COMPARED TO 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 525 million short tons (MMst), compared with 705 MMst in 2019, a 26% decrease.
COVID-19 a ...
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- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
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