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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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Wednesday, 07 December 22
MARKET INSIGHT - INTERMODAL
China’s coal imports from January to October were 230.1m mt, a decrease of around 10.7% y-o-y (2021 totalled 323.2m mt). The question is if t ...
Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scramble ...
Tuesday, 06 December 22
INDIA'S COAL PRODUCTION RISES 17% IN APR-NOV PERIOD - PTI
The country’s coal production increased 17 per cent to 524.20 million tonnes in the April-November period of the ongoing fiscal.
...
Tuesday, 06 December 22
INDONESIA AIMS TO STARTS COLLECTING COAL LEVY IN Q1 2023 - MINISTER, REUTERS REPORTED
Indonesia aims to establish a coal fund agency and start collecting a coal levy in the first quarter next year, to help ensure supply security for ...
Saturday, 03 December 22
COMPLEX RUSSIAN PRICE CAP MAKES MARITIME VISIBILITY A MUST - WINDWARD
Many commentators and analysts are speculating about the potential impact the Russian seaborne oil price cap will have on organizations and entitie ...
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- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Bangladesh Power Developement Board
- PTC India Limited - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
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