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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, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
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- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- PTC India Limited - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
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