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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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Monday, 18 April 22
DEMAND FOR THERMAL COAL TO RISE DUE TO INCREASE IN ELECTRICITY DEMAND: INDIAN COAL MINISTRY - PTI
Coal block allocatees have a golden opportunity to augment production as the demand for thermal coal will rise due to an increase in electricity de ...
Tuesday, 05 April 22
INDONESIAN COAL PRICE REFERENCE HITS RECORD ABOVE $288
COALspot.com: Indonesian Coal Price Reference for April in a steep climb from March 2022.
As expected, Russia – Ukraine war dr ...
Thursday, 31 March 22
CHINA STATE PLANNER ASKS COAL INDEX PROVIDERS TO RECTIFY IRREGULARITIES - REUTERS
China’s state planner has asked some major coal price index providers to rectify “severe irregularities” it had identified in the ...
Thursday, 31 March 22
IMPORTED COAL PRICES TO JUMP 55% IN APR-JUN, IMPACT INDIAN FIRMS: ICRA - LIVEMINT
Supply disruption owing to the Russia-Ukraine conflict could push the price of imported coal by 45-55% in Q1FY23 compared to the previous quarter, ...
Thursday, 31 March 22
CHINA'S COAL OUTPUT SET FOR MODERATE GROWTH IN 2022 - INDUSTRY BODY - REUTERS
China is expected to see its coal output to grow further in 2022 after hitting a record last year, an industry body forecast on Wednesday, as the c ...
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- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- The University of Queensland
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
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