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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 08 December 20
MARKET ANALYSIS - ALLIED SHIPPING
It is now undisputed that oil consumption for 2020 will post a considerable drop, as demand for several petroleum products has plummeted since the ...
Tuesday, 08 December 20
PANAMAX: THE OVERALL MARKET SEEMS TO BE UNDER NEGATIVE PRESSURE - ALLIED
Capesize
A rather indifferent week for the Capesize market, with BCI 5TC figure finishing the week with slight losses of 0.8%. The Atlantic enj ...
Friday, 04 December 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 04 December 20
THE INDONESIA COAL PRICE REFERENCE REACHES THREE MONTH HIGH ON IMPROVING DEMAND OUTLOOK
COALspot.com: The Indonesia Coal Price Reference reaches three month high on improving demand outlook . The Indonesia Coal Price Reference rose by& ...
Wednesday, 02 December 20
GLOBAL MINING SECTOR OUTLOOK STABLE DUE TO CHINA'S RECOVERY - FITCH RATINGS
China’s post-pandemic economic recovery and sizeable infrastructure-focused government stimulus boosted global metals and mining prices, help ...
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- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- White Energy Company Limited
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
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