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Friday, 23 September 22
MARKET INSIGHT - INTERMODAL
 In view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance even after the banning of Russian oil delivered by sea, Russian refined products will be banned within Q1--2023 and crude oil will be banned in December 2022.
Prior further expanding on what is Europe's plan to tackle the energy crisis its important to explain that most of European countries are interconnected on a power grid, which allows energy traders / countries to buy and sell energy on the spot depending on their needs / forecast at that time. Without the Grid infrastructure the energy cost for million households the past year could have been considerably higher than what we've faced.
Last week Berlin moved with seizing the local refining unit of Rosneft in Schwedt, meantime their government is also working to nationalize Uniper SE, steps towards a direction to be more dependent and further control the energy production. Up to now we still haven't seen Russia's retaliation on that move.
Now European diesel buyers are stepping up, the Russian diesel still trades on a discount, but not at the discount traders were enjoying on May, i.e., $30pmt but anything between $6pmt to $10pmt for NEW and Med respectively. Worth mentioning that due to price backwardation (oil prices expected to be lower than the price if were supposed to be bought today) traders are still avoiding cargo stocking as their not adding any value on their books.
Russia to year still supplied 44% of the total diesel supply and Rosneft posted a 13$ rise in midyear profit.
The East CPP MR and LR market remains bullish, with MR's leading the race in Feast markets, at present the MR Pacific basket is averaging $67,000 pdpr. Moving to MEG and WCI market softens slightly but still very healthy rates for MR's and LR1's. 35KT SIKKA/JAPAN stand at $38,000 pdpr and TC5 55KT AG/JAPAN $54.593 PDPR.
MR Atlantic basket has significantly improved since early December with TC2 (37KT ARA/USAC OR WAF stands at $30,441 pdpr for USAC discharge and $35,676 pdpr for WAF. The Backhaul from USG performs poorly if compared to last week $13,598 pdpr and LR1 60KT ARA/WAF $36,000 pdpr.
While Europe is still working on keeping us from freezing the upcoming winter, many traders and government officials express their concerns on how we will manage to keep the engine running under these harsh conditions.
By Dimitris Kourtesis
Tanker Broker
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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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- The University of Queensland
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
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