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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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Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
Sunday, 21 August 22
COAL-RICH POLAND FACES WINTER OF ENERGY DISCONTENT - DW
Poland uses 10 million tons of coal a year to heat households — a whopping 87% of all coal consumed in EU homes in 2019, according to the War ...
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- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Australian Coal Association
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
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