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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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Tuesday, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
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- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
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