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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Friday, 10 July 20
GLOBAL SHIPPING EARNINGS FORECAST CUT AS SUPPLY SET TO OUTSTRIP DEMAND - MOODY'S
EBITDA forecast worsens, keeping outlook negative. We now expect the aggregate EBITDA of rated shipping companies to fall by around 16%-18% in 2020 ...
Friday, 10 July 20
SLOW RECOVERY IN TANKER RATES TO WEIGH ON BUANA LINTAS LAUTAN - FITCH RATINGS
Fitch Ratings believes that international tanker rates are likely improve after their sharp fall since May 2020, albeit at a slow pace. The weaknes ...
Wednesday, 08 July 20
MARKET INSIGHT - INTERMODAL
During the previous month, the dry bulk market witnessed an impressive increase in the BDI index that has reached 1800 points from 500 with a clear ...
Tuesday, 07 July 20
COAL INDIA WORKERS STRIKE CUTS OUTPUT BY 56%: OFFICIAL - REUTERS
A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
Tuesday, 07 July 20
WHAT DOES THE PATHWAY TO A NET-ZERO ECONOMY LOOK LIKE FOR MINERS? - WOOD MACKENZIE
Wind, solar, electric vehicles, stationary storage and transmission are all central to achieving the Paris Agreement decarbonisation goals.
&nb ...
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- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
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