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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, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
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- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
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