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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- SMC Global Power, Philippines
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
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