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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 27 August 21
THE ECONOMICS OF INDONESIA’S DIESEL POWER PLANT TO GAS CONVERSION PLAN ARE PROBLEMATIC - IEEFA
Deploying new small-scale LNG is an uphill battle for PGN
Indonesian gas is currently in a precarious position, where the government needs to ...
Thursday, 26 August 21
INDIA IMPORTED 17.06 MLN TONNES OF LPG IN 2020; UP 11.5% Y-O-Y
Global LPG trade remained fairly positive in 2020, despite the global economic impact from COVID-19, and surged strongly in the first half of 2021. ...
Thursday, 26 August 21
MARKET INSIGHT - INTERMODAL
24th of August 2021, the Baltic Dry Index reached 4,201, a YTD high and the highest since May 2010.
Cape 5TC daily average @ 51,472
...
Tuesday, 24 August 21
COAL PRICE RALLY TO PRESSURE CHINESE POWER GENCOS’ MARGINS FITCH RATINGS
Fitch Ratings expects the pressure on Chinese power generation companies’ (gencos) profit from the recent coal price surge to weaken their cr ...
Tuesday, 24 August 21
TIGHT POWER SUPPLY IN CHINA AMID STRONG DEMAND, HIGH COAL PRICES - FITCH RATINGS
China experienced tight power supply in 1H21 on stronger than expected power demand as economic activity continued to recover, Fitch Ratings says i ...
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- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- VISA Power Limited - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- The University of Queensland
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- White Energy Company Limited
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Australian Coal Association
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
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