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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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Wednesday, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Bhatia International Limited - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
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