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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Thursday, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, ...
Wednesday, 22 September 21
MARKET INSIGHT - INTERMODAL
The unfolding last week of a trilateral defence pact between the United States, Australia, the United Kingdom (AUKUS) envisages a wide range of col ...
Tuesday, 21 September 21
CHINESE COAL IMPORTS FROM AUSTRALIA DROP 98.6% AS RESTRICTIONS BITE - BIMCO
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian c ...
Tuesday, 21 September 21
CHINA'S COAL OUTPUT RESUMES GROWTH IN AUGUST - XINHUA
China’s raw coal output rose 0.8 percent year on year to 340 million tonnes last month, official data showed.
The growth rate ...
Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed ...
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- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
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- Alfred C Toepfer International GmbH - Germany
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- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
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- Indonesian Coal Mining Association
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- Commonwealth Bank - Australia
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- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
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- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- VISA Power Limited - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- The University of Queensland
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
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- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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