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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 29 January 21
COAL EXPORTS FROM AUSTRALIA TO MAINLAND CHINA DECLINED BY -22.2% Y-O-Y IN 2020 - BANCHERO COSTA
In the 12 months of 2020, global seaborne coal trade declined by as much as -12.7% year-on-year, according to vessel tracking data from Refinitiv, ...
Friday, 29 January 21
OPEC+, COVID-19 AND ENERGY TRANSITION - 3 THEMES IMPACTING OIL MARKETS AND REFINING IN 2021 - WOOD MACKENZIE
Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key them ...
Thursday, 28 January 21
STRONG CHINESE THERMAL COAL IMPORTS TO BENEFIT INDONESIAN MINERS IN THE NEAR TERM - FITCH RATINGS
China's thermal coal imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, high utilisation at do ...
Thursday, 28 January 21
WIND PROPULSION FOR DRY BULK CARRIERS - OLDENDORFF
Oldendorff Carriers (OC) has signed a Joint Development Project (JDP) with Anemoi Marine Technologies (Anemoi), Lloyd’s Register (LR) and Sha ...
Thursday, 28 January 21
BUMA PRICED A USD400 MILLION 7.75% 5-YEAR SENIOR NOTES
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama priced a USD400 million 5-year (non-callable 2-year)& ...
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- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- PTC India Limited - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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