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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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- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Australian Coal Association
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
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