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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, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Posco Energy - South Korea
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- MS Steel International - UAE
- Parliament of New Zealand
- Australian Coal Association
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
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