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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
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- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Australian Coal Association
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Planning Commission, India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
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