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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 October 21
ENERGY CRISIS SHOWS COAL IS AN EXPENSIVE AND UNRELIABLE SOURCE OF ELECTRICITY GENERATION - IEEFA
Any knee-jerk reaction that urges more investment in coal completely misses the point
India is teetering on the brink of joining a growing glo ...
Tuesday, 26 October 21
CHINA TO INVESTIGATE ENERGY INDEX PROVIDERS IN BID TO TAME COAL PRICES - REUTERS
China said on Monday it will investigate energy price index providers as it urged coal industry participants to “strictly” meet contrac ...
Tuesday, 26 October 21
THERE IS PLENTY OF COAL AND GAS IN THE WORLD BUT A VOLATILE MARKET IS NOBODY'S FRIEND - IEEFA
Gas will be winding its way out of the energy system
Gas prices are continuing to surge around the world. The cost of gas is at unpr ...
Tuesday, 26 October 21
AUSTRALIA EXPORTED 51.6 MLN TONNES OF COAL TO INDIA IN FIRST 10 MONTHS, 19% OF ALL AUSTRALIAN COAL EXPORTS; CHINA WAS THE DESTINATION FOR JUST 0.7% - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. In 2021 things started pretty badly, but we are seeing increasing signs of ...
Monday, 25 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
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- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Australian Coal Association
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- PTC India Limited - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
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