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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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- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
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