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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, 23 September 22
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH - REUTERS
China’s coal production has surged this year as the government seeks to improve energy security by reducing dependence on imports and amassin ...
Friday, 23 September 22
EUROPEAN STEEL BUYERS SEEK DIRECTION IN VOLATILE MARKET - MEPS INTERNATIONAL
Demand for steel is slow to recover, after the summer break. Mill production costs continue to increase. Steel purchasers are uncertain about the f ...
Friday, 23 September 22
BUOYANT COAL INDUSTRY SEEKS WAYS TO STAY IN THE LONG-TERM ENERGY MIX - REUTERS
There’s no doubt that the global coal industry has been a major beneficiary of Russia’s invasion of Ukraine and the subsequent energy c ...
Tuesday, 20 September 22
CHINA'S DAILY COAL OUTPUT HITS 3-MONTH LOW IN AUGUST ON RAINS, COVID CURBS - REUTERS
China’s daily coal output in August slipped to a three-month low as some mines in its biggest coal mining regions reduced operations or even ...
Tuesday, 20 September 22
CHINA COAL OUTPUT UP 8.1 PCT IN AUGUST - XINHUA
China’s raw coal output posted stable expansion in August, official data showed.
The country produced 370 million tonnes of ra ...
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- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
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