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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, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- The University of Queensland
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
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