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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Tuesday, 26 April 22
CHINA'S APPETITE FOR BAUXITE HITS NEW RECORD AS Q1 IMPORTS JUMP 15.4% Y/Y - BIMCO
Bauxite shipments arriving in China hit new record levels in the first quarter of 2022 and grew at an average annual rate of 12.8% between 2017 and ...
Tuesday, 26 April 22
INDIA'S COAL IMPORTS ARE SHIFTING, THERMAL MORE THAN COKING - REUTERS
India’s coal imports are starting to reflect shifting world trade and pricing dynamics in the wake of Russia’s invasion of neighbouring ...
Monday, 18 April 22
GERMAN COAL IMPORTERS EXPECT A BRIEF SPIKE IN PRICES ON EU BAN - REUTERS
A European Union embargo on Russian coal imports will push up prices in the short term before alternative supplies become available to steady the c ...
Monday, 18 April 22
FINNISH 'LOOPHOLES' ALLOW IMPORTS OF RUSSIAN COAL AND OIL TO CONTINUE - EURONEWS
Activists in Finland are calling for the government to clamp down faster on state-owned companies that continue to import raw materials from Russia ...
Monday, 18 April 22
GOVT IN DISCUSSION WITH WORLD BANK ON FRAMEWORK FOR COAL MINE CLOSURE - BUSINESS STANDARD
The coal ministry is in discussions with the World Bank for collaboration on the mine closure framework, a government official said on Wednesday.
...
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- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- The University of Queensland
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
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