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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- White Energy Company Limited
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
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