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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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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
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