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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Monday, 26 October 20
'LONG ASCENT' TO RECOVERY OF GLOBAL GROWTH - BALTIC EXCHANGE
The global economy has so far avoided a “financial catastrophe” but growth projections from the International Monetary Fund’s lat ...
Friday, 23 October 20
SHIPPING LOANS AND COLLATERAL DAMAGE - VICTOR ONYEGBADO, AKABOGU & ASSOCIATES
KNOWLEDGE TO ELEVATE
Shipping finance transactions are characterised by peculiar risk factors principally on account of the shipping asset&rsq ...
Friday, 23 October 20
WHAT WILL THE 2020 ELECTIONS MEAN FOR US ENERGY? - WOOD MACKENZIE
The 2020 elections present American voters with a choice between two radically different visions for the future of energy. President Donald Trump r ...
Wednesday, 21 October 20
BRAZIL EXPORTED 238.7 MLN TONNES OF IRON ORE IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
Brazil’s iron ore exports have been gradually but steadily recovering following a disastrous winter period of 2019/2020. In the first 9 month ...
Wednesday, 21 October 20
INDIA: THE COMMERCIALISATION OF COAL BLOCKS WILL BENEFIT THE ECONOMY - HINDU BUSINESS LINE
As the government of India receives 76 bids for 23 coal mines against the 38 up on auction, what does this commercialisation of coal block allocati ...
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- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
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