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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, 31 October 22
U.S. COAL-FIRED GENERATION DECLINING AFTER BRIEF RISE LAST YEAR - EIA
We expect 6% less U.S. coal-fired generation in 2022 than in 2021, according to our latest Short-Term Energy Outlook (STEO). Although coal-fired ge ...
Monday, 31 October 22
CHINA COAL OUTPUT UP 12.3 PCT IN SEPTEMBER - XINHUA
China’s raw coal output posted stable expansion in September, official data showed.
The country produced 390 million tonnes of ...
Wednesday, 26 October 22
BIMCO PUBLISHES UPDATED GENCON CONTRACT
BIMCO has published a revised and updated version GENCON 2022 – one of its flagship contracts within its portfolio of standard contracts for ...
Monday, 24 October 22
KOSPO TO INVITE 400,000 MT OF COAL FOR 3 YEARS
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an international tender for 400,000 MT of 3,800 - 4,400kcal/kg NCV and Sulfur Max 0 ...
Wednesday, 19 October 22
ASIA COULD BE A BRIGHT SPOT AMID GLOBAL DOWNTURN NEXT YEAR, ECONOMISTS SAY - CNBC
Asia — especially Southeast Asia — remains a bright spot, even as the global economy looks set to head into recession next year, econom ...
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- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
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