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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, 19 October 22
WHAT WILL THE GAS MARKET LOOK LIKE IN A NET ZERO WORLD? - WOOD MACKENZIE
The global gas and LNG market faces a number of ‘great unknowns’. With the market in turmoil uncertainty abounds – from the scale ...
Wednesday, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
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- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Central Electricity Authority - India
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