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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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Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
...
Thursday, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
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- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- The University of Queensland
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
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