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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 European countries believe that the most environmentally harmful ships should be withdrawn by 2029 if they are unable to comply with all emission standards set forth.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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Wednesday, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
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- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- White Energy Company Limited
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- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
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- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Planning Commission, India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
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