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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Tuesday, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
Monday, 27 September 21
CHINESE COAL FIRMS MEET TO ADDRESS WINTER SUPPLY CHALLENGES - CNBC
Major Chinese coal producers are trying to resolve supply shortages and curb price rises as the country’s winter consumption peak approaches, ...
Saturday, 25 September 21
HIGH STAKES FOR ASIAN DEVELOPMENT BANK’S AMBITIOUS COAL POWER RETIREMENT PLAN - IEEFA
Implementation challenges could block funding for other equally important high impact clean energy funding strategies
In the lead up ...
Thursday, 23 September 21
LONGER COAL CONTRACTS MAY REIN IN PRICES - ECNS
In China’s coal sector that has been marred recently by price surges, regional authorities and related enterprises should ensure the fuel con ...
Thursday, 23 September 21
BALTIC INDEX HITS 12-YEAR PEAK ON FIRMER VESSELS RATES - REUTERS
The Baltic Exchange’s main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rat ...
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- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Australian Coal Association
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
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