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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Wednesday, 13 October 21
MARKET INSIGHT - INTERMODAL
Following up on our insight on May 2021, where we discussed about the Capesize market outlook for the second half of the year, we are pleased to se ...
Wednesday, 13 October 21
FBX INDEX: THE IMPOSSIBILITY OF SHORT-TERM FORECASTING - LARS JENSEN
Will freight rates on Asia-Europe or the Transpacific reach 40.000 USD/FFE in the run-up prior to Chinese New Year 2022? Or will they start droppin ...
Wednesday, 13 October 21
CHINA FLOODS: COAL PRICE HITS FRESH HIGH AS MINES SHUT - BBC
The price of coal used in China’s power plants has surged to a new record high as another of the country’s key mining regions is hit by ...
Tuesday, 12 October 21
BUMA SIGNS CONDITIONAL AGREEMENT FOR AUSTRALIAN ASSET ACQUISITION
PT Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, through its newly incorporated Australian subsidiary, BUMA International Pty ...
Tuesday, 12 October 21
INDONESIA'S COAL-BASED POWER PLANTS ARE SUBJECT TO CARBON TAX NEXT YEAR, ELECTRICITY COSTS COULD RISE! - CNBC
The Indonesian government is planning plans to implement a carbon tax of IDR 30 per kilogram (kg) of carbon dioxide equivalent (CO2e) or equivalent ...
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- Posco Energy - South Korea
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
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