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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
Wednesday, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
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- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- The University of Queensland
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Independent Power Producers Association of India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
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