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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 28 July 21
IN THE PHILIPPINES, COAL’S DEMISE MAKES WAY FOR A RENEWABLE ENERGY BOOM - IEEFA
Imported gas lock-in could undermine the economic benefits of a clean energy transition
The Philippines’ energy sector is on t ...
Wednesday, 28 July 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during this first half of the year, we continue to come across surprises and new restrictions which are trembling ...
Saturday, 24 July 21
UNDERSTANDING INDIA'S LATEST PEAK POWER DEMAND RECORD - IEEFA
Ramping up solar will be crucial as peak power demand hits during the day
At around noon on 7 July 2021, India’s instantaneous ...
Wednesday, 21 July 21
MARKET INSIGHT - INTERMODAL
Dry Buk Sales and Purchase activity has heated up during 2021, reaching record high levels during the first half of the year. The increased interes ...
Monday, 19 July 21
CHINA'S COAL OUTPUT UP 6.4 PCT IN H1 - XINHUA
China’s raw coal output climbed 6.4 percent year on year to 1.95 billion tonnes in the first six months of the year, official data showed.
...
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- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
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