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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, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
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- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
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