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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Planning Commission, India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
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