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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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Friday, 18 November 22
REALITIES OF LOI LIABILITIES - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
The cargo misdelivery claim in Trafigura Maritime Logistics Pte Ltd v. Clearlake Shipping Pte Ltd (Miracle Hope) [2022] E ...
Tuesday, 15 November 22
CHINA SEES RISING COAL STORAGE AMID SUPPLY PUSH - XINHUA
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy r ...
Tuesday, 15 November 22
SEABORNE THERMAL COAL PRICES START TO EASE, BUT PROCESS IS UNEVEN - REUTERS
Prices for seaborne thermal coal have started to drop as fears of a winter energy crunch ease, but the rate of decline has varied across the differ ...
Thursday, 10 November 22
INDIA: THERMAL PLANTS HAVE ADEQUATE COAL STOCKS AT 25.6 MILLION TONNES, SAYS GOVT - IANS
The coal stock with domestic dry fuel-based power plants, as on October 31, was 25.6 million tonnes, the government said, adding that the availabil ...
Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructu ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
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