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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Monday, 26 October 20
'LONG ASCENT' TO RECOVERY OF GLOBAL GROWTH - BALTIC EXCHANGE
The global economy has so far avoided a “financial catastrophe” but growth projections from the International Monetary Fund’s lat ...
Friday, 23 October 20
SHIPPING LOANS AND COLLATERAL DAMAGE - VICTOR ONYEGBADO, AKABOGU & ASSOCIATES
KNOWLEDGE TO ELEVATE
Shipping finance transactions are characterised by peculiar risk factors principally on account of the shipping asset&rsq ...
Friday, 23 October 20
WHAT WILL THE 2020 ELECTIONS MEAN FOR US ENERGY? - WOOD MACKENZIE
The 2020 elections present American voters with a choice between two radically different visions for the future of energy. President Donald Trump r ...
Wednesday, 21 October 20
BRAZIL EXPORTED 238.7 MLN TONNES OF IRON ORE IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
Brazil’s iron ore exports have been gradually but steadily recovering following a disastrous winter period of 2019/2020. In the first 9 month ...
Wednesday, 21 October 20
INDIA: THE COMMERCIALISATION OF COAL BLOCKS WILL BENEFIT THE ECONOMY - HINDU BUSINESS LINE
As the government of India receives 76 bids for 23 coal mines against the 38 up on auction, what does this commercialisation of coal block allocati ...
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- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
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