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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
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