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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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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Australian Coal Association
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