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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
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