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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
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