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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, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
Monday, 12 September 22
COAL PRICE HIKE REMAINS DIFFICULT FOR CIL: CHAIRMAN TELLS ANALYSTS - PTI
Coal India on Thursday informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with h ...
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- Australian Coal Association
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
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