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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 February 23
PAKISTAN PLANS TO QUADRUPLE DOMESTIC COAL-FIRED POWER, MOVE AWAY FROM GAS - REUTERS
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming ...
Saturday, 18 February 23
2023 MARINE FUEL MARKET PREDICTIONS - JOHN BERGMAN, AURAMARINE
The drive for decarbonisation we witnessed in 2022 has continued into 2023, demonstrating the shipping’s industry positive strides in the fas ...
Saturday, 28 January 23
COAL GROWTH BLIP NOT TO BE REPEATED - BALTIC EXCHANGE
As 2022 drew to a close, global coal demand looked set to end the year just 1.2% up on the previous year. But that small increase was enough to pus ...
Thursday, 26 January 23
CHINA'S COAL OUTPUT INCREASES IN DECEMBER 2022 - XINHUA
China’s raw coal output posted stable expansion in December 2022, official data showed.
The country produced 400 million tonne ...
Thursday, 26 January 23
COKING COAL NARROWS THE GAP ON THERMAL AS CHINA REOPENS - REUTERS
The premium of high-grade thermal coal over coking coal in Asia is shrinking as China’s re-opening and ending of a ban on imports from Austra ...
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- PTC India Limited - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Central Electricity Authority - India
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