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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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Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Australian Coal Association
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- PTC India Limited - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
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