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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 16 June 21
MARKET INSIGHT - INTERMODAL
“While approaching the second half of the year and summer season is just around the corner, COVID vaccination programs are steadily moving fo ...
Monday, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
That’s what’s expected to happen to Australia’s economy “when” China st ...
Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
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- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
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- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
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- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
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- India Bulls Power Limited - India
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- IEA Clean Coal Centre - UK
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- Economic Council, Georgia
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- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
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- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
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