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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Australian Coal Association
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
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