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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 27 January 21
MARKET INSIGHT - INTERMODAL
As we have entered the era off renewable energies, all industries globally give max effort to minimize their carbon footprint and consequently thei ...
Monday, 25 January 21
ULTRAMAX YET ANOTHER POSITIVE WEEK FOR THE SECTOR, WHICH SAW INCREASED DEMAND ACROSS ALL BASINS - BALTIC BRIEFING
Capesize
The Capesize market rocked and rolled these past few days. But by weeks end little had changed on the Capesize 5TC as it settled down ...
Monday, 25 January 21
NEW LAW IN CALIFORNIA, USA, AFFECTING SHIPOWNERS' LIABILITY FOR OIL POLLUTION - BIMCO
Members are advised that amendments to the so-called Lempert-Keene-Seastrand Oil Spill Prevention and Response Act of 1990 in the State of Californ ...
Monday, 25 January 21
COAL INDIA SAYS GEARED UP TO MEET SURGE IN FUEL DEMAND FROM POWER SECTOR - PTI
State-owned Coal India Ltd on Saturday said that it is well geared to meet any surge in demand for coal from the power sector.
The s ...
Sunday, 24 January 21
GOVT ASSURES COAL INDIA OF 'FULL SUPPORT', STRESSES ON LEARNING 'NEW THINGS' - PTI
Coal Minister Pralhad Joshi assured Coal India of full government support, even as he said the PSU needs to learn “new things” for impr ...
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- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
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