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Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
 Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia’s latest invasion, the outcome of the war appears to be unclear. The Russian military seems incapable of taking either Kyiv or occupying major territories of the country. Ukrainian forces have gained success and could well continue to make progress in regaining field. The war also could settle into a more protract conflict, with neither side capable of making a decisive breakthrough in the near future.
In the past June, European Union decided to ban both seaborne imports of Russian oil and the provision of specific services derived from Russian oil shipments, in particular insurance and reinsurance industries which EU companies do dominate. The US authorities, which had already banned direct imports of Russian oil, shudder at the ban which would cause oil prices to spike by plunging most Russian exports.
Accordingly, States of great sovereignty, strived towards the tool of capping the price of Russian oil, aimed at pinching Russia’s reserves whilst avoiding a spike in oil prices. However, the mechanism’s high price ceiling and its inability to compel Russia’s affairs with Asia-top tier- customers, undermine its ability to deprive Moscow of substantial revenue and aggravate both political and economic issues against Ukraine.
When the West announced on December 2nd, that they had agreed on a $60 price cap on Russian oil exports, they proclaim it as a valiant achievement in energy stability. But one who thinks this would be a significant tap into Russian oil revenues—and the administration’s ability to fuel its war by bringing to heel Ukraine—was likely to be disappointed. The price cap agreed on by the European Union and quickly endorsed by the United States, G7, and Australia was not bold enough to significantly have an effect on Russian revenues or hamper the conduct of the war. After all, Russian oil has sold at prices in the $60 range for the last several years. Moreover, since Russia’s February invasion of Ukraine, global trades have already limited their offtake of Russian crude to some extent. When countries such as India and China snapped up the surplus, they negotiated steep discounts while the discount for Urals crude, the main Russian benchmark—nearly $40 per barrel compared with Brent oil in the early months of the war—slowly dropped into the low $20 per barrel range, allowing Moscow to continue thriving.
If the price cap starts to influence Russia, it could create political space for further actions by throbbing Russian energy revenues. This cap should not be considered as an off energy policy tool- if Russia continues to wage its war, hence same should be seen instead as an interim measure until the next set of energy restrictions are to be imposed, including a lower price cap level.
By Alexandros Christakoudis
Tanker Chartering
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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Australian Coal Association
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
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