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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, 19 September 22
BUMA AUSTRALIA AWARDED A$400 MILLION CONTRACT EXTENSION BY BMA FOR GOONYELLA PROJECT
Press Release – PT Delta Dunia Makmur Tbk. (the "Company") announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA ...
Saturday, 17 September 22
CHINA WARNS COAL COMPANIES AGAINST DUAL CONTRACTS, KEEP PRICES STABLE - REUTERS
China’s state economic planner warned coal companies operating at ports in the Bohai Bay region to comply with their long-term contracts to k ...
Saturday, 17 September 22
IS A GLOBAL RECESSION IMMINENT? - WORLD BANK
Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising inflation and tightening financing conditions, has i ...
Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
...
Friday, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
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- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
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