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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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