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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
Friday, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
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- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
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