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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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Thursday, 06 October 22
COAL INDIA ASKED TO ENHANCE SUPPLY TO THERMAL POWER PLANTS - IANS
With the festival season round the corner, Coal India Ltd. has been directed by the government to scale up dispatch to thermal power plants.
&n ...
Wednesday, 05 October 22
BUNKER PRICES DOWN AGAIN; IS THERE MORE TO COME? - INTEGR8 FUELS
It’s the economy…..”
VLSFO prices are now back to levels at the start of this year. After all the extremes of thi ...
Tuesday, 04 October 22
A REMARKABLE SHIFT IN FORTUNES HAS BEEN NOTED IN THE CRUDE OIL TANKER MARKETS - ALLIED SHIPPING
A remarkable shift in fortunes has been noted in the crude oil tanker markets over the past month, yet despite these shifts being seemingly in thei ...
Tuesday, 04 October 22
OIL PRICES COULD SOON RETURN TO $100 AS OPEC+ CONSIDERS ‘HISTORIC’ CUT, ANALYSTS SAY - CNBC
An influential alliance of some of the world’s most powerful oil producers is reportedly considering their largest output cut since the start ...
Tuesday, 04 October 22
INDONESIAN COAL PRICE REFERENCE SURGE AGAIN TO RECORD HIGH
COALspot.com: Indonesian Coal Price Reference reached another record high in October as Russia's war in Ukraine continues to spark a surge in c ...
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- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Australian Coal Association
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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