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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, 16 November 21
CHINA'S MONTHLY COAL OUTPUT RISES TO HIGHEST SINCE MARCH 2015 - REUTERS
China’s October coal output rose to the highest since at least March 2015, after Beijing approved a raft of coal mine expansions to tame reco ...
Friday, 12 November 21
RUSSIA-INDIA COKING COAL DEAL UNLIKELY TO IMPACT PANAMAX SHIPPING - DREWRY
Russia and India have recently entered into an agreement whereby Russia will supply up to 40 million tonnes of coking coal to India every year. Dre ...
Friday, 12 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
Friday, 12 November 21
INDONESIAN COAL PRICE REFERENCE TOPS $215 A TON; THE HIGHEST COAL PRICE IN HISTORY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second half of 2021 as it reached a pinnacle of $215.01 in November 2021 ...
Thursday, 11 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
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- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
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