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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, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
...
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- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- The University of Queensland
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
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