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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 $36,000 pdpr.
While Europe is still working on keeping us from freezing the upcoming winter, many traders and government officials express their concerns on how we will manage to keep the engine running under these harsh conditions.
By Dimitris Kourtesis
Tanker Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 04 November 22
CHINA EXPANDS COAL TERM CONTRACTS TO ALL MINES TO STABILIZE MARKET - REUTERS
China has expanded long-term thermal coal supply contracts for 2023 to all coal mines and asked power utilities to source more of their demand thro ...
Thursday, 03 November 22
HANDYSIZE VALUES MOVING UP IN OCTOBER, WHILE LNG VALUES SKYROCKET - VESSELSVALUE
Handysize values have increased this month across most ages, following a period of decline. Values for generic 10 year old Handysizes have moved up ...
Thursday, 03 November 22
EUROPEAN GAS SUPPLY SURPLUS, NOVEMBER HBA DOWN TO US$ 308.2 PER TON - ESDM
European gas supply conditions have a major influence in determining fluctuations in the Reference Coal Price (HBA). The November 2022 HBA recorded ...
Wednesday, 02 November 22
MARKET INSIGHT - INTERMODAL
Only five weeks before western sanctions’ full effect, uncertainty over energy has markets and governments on the edge. What was initially th ...
Tuesday, 01 November 22
CHINA COAL TRADE DISRUPTED BY COVID OUTBREAKS AS WINTER LOOMS - REUTERS
China’s strict COVID-19 policy is constraining coal supplies and pushing up prices, industry officials and traders say, just weeks before the ...
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- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
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