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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 18 April 21
INDONESIA LIKELY TO WITNESS 119 OIL AND GAS PROJECTS STARTS ACROSS VALUE CHAIN BY 2025, SAYS GLOBALDATA
Indonesia is expected to witness 119 oil and gas projects commencing their operations across value chain during 2021-2025, accounting for 6% of the ...
Sunday, 18 April 21
WORLDSTEEL RAISES 2021 STEEL DEMAND GROWTH FORECAST TO 5.8% - WORLDSTEEL
The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that steel demand wil ...
Sunday, 18 April 21
CHINA'S Q1 COAL OUTPUT RISES 16% ON STRONG DEMAND FOR WINTER HEATING - REUTERS
China’s coal output rose 16% in the first quarter from the same period last year, bolstered by strong demand for winter heating and robust in ...
Wednesday, 14 April 21
INDIA HAS A RECORD LEVEL OF STOCKPILED COAL DAMPENING NEED FOR NEW DOMESTIC MINES - IEEFA
Proposed coal mining expansions at odds with excess supply
India has stockpiled a record 132 million tonnes of coal – enough t ...
Wednesday, 14 April 21
BANGLADESH NEEDS A RENEWABLES FOCUS, NOT A SWITCH FROM 'COAL TO GAS' - IEEFA
Renewables are cheaper and more sustainable than gas imports, and can provide better energy security in developing nations
The emerg ...
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- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
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