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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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Sunday, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - 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, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
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