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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
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