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Wednesday, 02 March 22
SHIPPING MARKET INSIGHT - INTERMODAL
 The escalating confrontation between Russia and Ukraine has the potential to disrupt global order and set the world back a few decades. While countries are still recovering from the pandemic, the economic impact might be upsetting, depending on the extent of the conflict and the duration and scope of the sanctions imposed. All financial setbacks may take time to materialize, though this new reality is already having an impact on the shipping industry. Financial institutions, investments in the Russian market, goods exports, and access to EU financial markets have all been restricted, thus shutting off Russia's ability to interact, obtain credit, and trade with the rest of the world.
Recently, out of approximately 44k bulk and tanker vessels operating in the world, approximately 2k vessels are owned by Russian registered companies. This indicates that any shipping company, trader or bank being in business with Russian corporations is exposed to risk, as they could be banned at any time. All forthcoming contracts, including those involving Russian businesses and vessels, are in danger of being cancelled or renegotiated in light of this uncertainty. Additionally, OFAC has so far sanctioned Sovcomflot shipping, owning nearly 230 tankers and accordingly these growing sanctions may further result in the exclusion of over 2k Russian vessels from the international charter market instantly. Moreover, the UK unveiled a new package of sanctions against Russia that includes a move to ban Russian vessels from accessing UK ports, even though many were en-route to UK ports as reported.
Furthermore, BP has announced that will exit its 19.75% shareholding in Rosneft that accounts for over half of BP's oil and gas reserves and a third of its production resulting in charges of up to $25 billion. Also, it is reported that Norwegian energy giant Equinor will start the process of separating from its joint ventures in Russia. The disruption of calls to Ukraine's and Russia's ports is forcing cargo already loaded to be redirected and discharged at other ports, escalating congestion. Additionally, it is reported that the world's biggest container ship operators - A.P. Moller-Maersk A/S and Mediterranean Shipping Co., stated they would temporarily suspend services to Russian ports, including those far from the conflict in Ukraine.
Meanwhile, regarding the tanker market, sanctions have not yet targeted Russian oil, but vessel owners are proactively refusing to load Russian cargoes as only a few owners are now eager to transport Russian oil, resulting in an undersupply of ships at Russian export terminals. As a consequence, the tankers still willing to load Russian cargo are able to probe higher rates that are not representative of the market. Indicatively as reported a smaller Aframax loading Russian crude is getting paid $130k/day, up from $5k/day last week. In addition, Russia and Ukraine are major labor suppliers to the international fleet. Ship-owners are facing up to the prospect of huge seafarer shortages and imminent difficulties in getting thousands of crew in and out of Ukraine during the crisis, while sanctions are likely to make it difficult for Ukrainian or Russian seafarers to be paid.
The Black Sea ports of Russia and Ukraine are major export hubs for wheat, corn, and crude oil. The economic and agricultural impact of this conflict has yet to be fully disclosed, while the Black Sea region is the world's second-largest grain-exporting region in 2021, with 111.2 million tons of cargo with Russia and Ukraine accounting for 30% of worldwide wheat exports. The latent shift in global agricultural trade may result to an augmented buying interest for US and South American corn and Australian and Canadian barley.
To sum up, for the modern world the last several days have been an emotional rollercoaster. Many organizations are bewildered and overwhelmed by the diverse implications of this conflict on their operations, as the pandemic's wounds were just beginning to heal. The conflict present in Ukraine is causing major disruption for the shipping industry, with many vessels trapped at ports, cargoes being derailed and freight rates rolling. The disruptions are adding strains to a global supply chain already stressed from two years of pandemic imbalances.
By Katerina Restis
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
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, 13 July 22
MARKET INSIGHT - INTERMODAL
Taking the previous market insight a step further, market sentiment remains bullish regarding the overall ROI of scrubbers, facing tailwinds from a ...
Friday, 08 July 22
AUSTRALIAN COAL PRICE BREAKS AGAIN LEVEL US$ 400/TON!, UP AROUND 4% - CNBC INDONESIA
Coal prices shot up again and crossed the level of US$ 400 per ton. On Thursday (7/7/2022) trading, the selling price of August contract closed at ...
Friday, 08 July 22
INDONESIA MULLS MORE FREQUENT SETTING OF CRUDE PALM OIL REFERENCE PRICE - REUTERS
Indonesia is considering setting its crude palm oil (CPO) export reference price every two weeks instead of monthly, a senior trade ministry offici ...
Friday, 08 July 22
BUNKER PRICES EXPECTED TO RECOVER LOST GROUND NEXT WEEK - SERGEY IVANOV, MABUX
Over the Week 27, the world bunker indices showed a sharp decline, primarily due to the fall in oil prices on July 05. The 380 HSFO index fell by 5 ...
Thursday, 07 July 22
NTPC MINES 61% MORE COAL AT 4.22 MN METRIC TONNES IN APRIL-JUNE: PTI
State-owned power giant NTPC on Tuesday said that its coal output grew by 61 per cent to Rs 42.40 lakh metric tonnes in April-June quarter from 26. ...
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- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Planning Commission, India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
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