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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
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