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Wednesday, 05 October 22
MARKET INSIGHT - INTERMODAL
 Amid the looming western sanctions on Russia, the country is challenged to pivot its energy markets away from Europe and toward the East. Yet, Russia has been considering exports of oil and gas from its Eastern territories to Asia-Pacific countries since the early 1970s, when the authorities recognized an opportunity to supplement the country’s West Siberian Output. Political instabilities, though, paired with uncertainty on Chinese and Japanese demand have substantially obstructed any course of action.
Pre-invasion, 60% of the country’s oil exports were directed to European countries and about 20% to China, either through pipelines or via seaborne routes, making it, thus, easier to redirect compared to gas. However, since the invasion of Ukraine and the announcement of sanctions, oil has gradually shifted towards the main Asian importers, China, and India, and to some new, albeit considerably smaller, customers, such as Sri Lanka, Egypt, and Indonesia. It is questioned, though, how effectively the country’s exports will be redirected to its emerging Asian customers.
Currently, 85% of the country’s production is clustered around West Siberia, Timan-Pechora, and the Volga Urals. As a result, exports are heavily concentrated in the Black Sea and Baltic ports, thus, trebling the voyage distance and inflating costs and freights. Due to logistic issues and insufficient infrastructure between the above regions and the country’s eastern terminals, the redirection of the country’s oil exports is challenged.
The maturity of the Western fields paired with the western sanctions on oil have urged the country to increase production from its East Siberian fields. During the past decade, East Siberian oil output gradually surged to 700,000 b/d. Meanwhile, the oil output from its mature West Siberian fields is estimated to decrease by 2m b/d over the next decade. Rosneft’s new Vostok Oil Megaproject, located at the northern junction of East and West Siberia, is set to add 1.5m b/d by 2030, with a target of 2m b/d. The project also includes the construction of Bukhta Sever Port which is set to become the country’s largest oil terminal and facilitate the development of the Northern Sea Route, while it is also going to test the country’s resilience to western sanctions. Since the voyage distance via the Northern Sea Route to the Far East could save up to 20 days off the shipping time spent compared to the Suez Canal route, vessels’ tonne-miles could be almost halved. Although the North Sea Route will provide more flexibility to the shippers and facilitate the current supply chain constraints, it is expected to provide some inconvenience as well due to its operational seasonality. Arctic sea lanes are estimated to be ice-free during the summertime by 2035, according to scientists, however, the lack of predictability will continue to overweigh the savings on shipping costs and time.
Overall, in the mid-term and within the next five years, the global oil market will be highly volatile and fragmented. Russia will be forced to reposition itself amid the realignment of the energy markets, however, the efficiency of the country’s relationship establishment with Asian customers is yet to be witnessed.
By Chara Georgousi
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 December 22
INDONESIAN COAL PRICE REFERENCE PLUNGE TOWARD US$ 281.48 A TON AS DEMAND DROPS WORLDWIDE
COALspot.com: The cost of coal is falling so fast that it is beginning to put real money back in the pockets of end-users.
Indonesia ...
Wednesday, 30 November 22
INDONESIA’S BUMI RESOURCES TARGETS 2023 COAL OUTPUT OF 80 MLN TONNES - REUTERS
Indonesian coal miner PT Bumi Resources Tbk BUMI.JKis eyeing a 10% increase in output to 80 million tonnes next year amid expectations for more fav ...
Wednesday, 30 November 22
TANKERS: LONGER HAULS TO SUPPORT CONTINUED STRENGTH - BIMCO
Highlights
A rebound in the dirty tanker trade has led the Baltic Exchange Dirty Index (BDTI) to increase by 64% since our last report from mid ...
Wednesday, 30 November 22
MARKET INSIGHT - INTERMODAL
Shipping, although a conservative and innovation adverse industry, is currently in a transition period of digital transformation. According to a su ...
Tuesday, 29 November 22
INDIA TO RECEIVE FIRST LNG CARGO FROM INDONESIA’S TANGGUH LNG - REUTERS
India will receive its first cargo from Indonesia’s Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a ...
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- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
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