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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 29 June 20
ULTRAMAX: A 58,000 FIXING DELIVERY SINGAPORE TRIP, VIA EAST COAST INDIA, REDELIVERY CHINA IN THE LOW $12,000S - BALTIC BRIEFING
Capesize
As the halfway mark of 2020 arrives, the capesize market is making new highs for the year. From persistent lows earlier caused by a ba ...
Saturday, 27 June 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 26 June 20
WHAT TODAY'S BAILOUTS CAN DO FOR TOMORROW'S ECONOMIES - WORLD ECONOMIC FORUM
The COVID-19 crisis provides an opportunity for governments to build fairer, more sustainable and more resilient economies.
Governments a ...
Thursday, 25 June 20
ALL YOU WANT TO KNOW ABOUT COAL MINE AUCTIONS - THE HINDU BUSINESS LINE
Last week, Prime Minister Narendra Modi threw open the auction of 41 coal blocks for commercial mining. The decision, which was part of the announc ...
Wednesday, 24 June 20
MARKET INSIGHT - INTERMODAL
The World Bank estimates that the global economy will fall by 5.2% this year, underlining that the Covid-19 pandemic has had rapid and massive cons ...
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- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
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