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Wednesday, 02 March 22
SHIPPING MARKET INSIGHT - INTERMODAL
 The escalating confrontation between Russia and Ukraine has the potential to disrupt global order and set the world back a few decades. While countries are still recovering from the pandemic, the economic impact might be upsetting, depending on the extent of the conflict and the duration and scope of the sanctions imposed. All financial setbacks may take time to materialize, though this new reality is already having an impact on the shipping industry. Financial institutions, investments in the Russian market, goods exports, and access to EU financial markets have all been restricted, thus shutting off Russia's ability to interact, obtain credit, and trade with the rest of the world.
Recently, out of approximately 44k bulk and tanker vessels operating in the world, approximately 2k vessels are owned by Russian registered companies. This indicates that any shipping company, trader or bank being in business with Russian corporations is exposed to risk, as they could be banned at any time. All forthcoming contracts, including those involving Russian businesses and vessels, are in danger of being cancelled or renegotiated in light of this uncertainty. Additionally, OFAC has so far sanctioned Sovcomflot shipping, owning nearly 230 tankers and accordingly these growing sanctions may further result in the exclusion of over 2k Russian vessels from the international charter market instantly. Moreover, the UK unveiled a new package of sanctions against Russia that includes a move to ban Russian vessels from accessing UK ports, even though many were en-route to UK ports as reported.
Furthermore, BP has announced that will exit its 19.75% shareholding in Rosneft that accounts for over half of BP's oil and gas reserves and a third of its production resulting in charges of up to $25 billion. Also, it is reported that Norwegian energy giant Equinor will start the process of separating from its joint ventures in Russia. The disruption of calls to Ukraine's and Russia's ports is forcing cargo already loaded to be redirected and discharged at other ports, escalating congestion. Additionally, it is reported that the world's biggest container ship operators - A.P. Moller-Maersk A/S and Mediterranean Shipping Co., stated they would temporarily suspend services to Russian ports, including those far from the conflict in Ukraine.
Meanwhile, regarding the tanker market, sanctions have not yet targeted Russian oil, but vessel owners are proactively refusing to load Russian cargoes as only a few owners are now eager to transport Russian oil, resulting in an undersupply of ships at Russian export terminals. As a consequence, the tankers still willing to load Russian cargo are able to probe higher rates that are not representative of the market. Indicatively as reported a smaller Aframax loading Russian crude is getting paid $130k/day, up from $5k/day last week. In addition, Russia and Ukraine are major labor suppliers to the international fleet. Ship-owners are facing up to the prospect of huge seafarer shortages and imminent difficulties in getting thousands of crew in and out of Ukraine during the crisis, while sanctions are likely to make it difficult for Ukrainian or Russian seafarers to be paid.
The Black Sea ports of Russia and Ukraine are major export hubs for wheat, corn, and crude oil. The economic and agricultural impact of this conflict has yet to be fully disclosed, while the Black Sea region is the world's second-largest grain-exporting region in 2021, with 111.2 million tons of cargo with Russia and Ukraine accounting for 30% of worldwide wheat exports. The latent shift in global agricultural trade may result to an augmented buying interest for US and South American corn and Australian and Canadian barley.
To sum up, for the modern world the last several days have been an emotional rollercoaster. Many organizations are bewildered and overwhelmed by the diverse implications of this conflict on their operations, as the pandemic's wounds were just beginning to heal. The conflict present in Ukraine is causing major disruption for the shipping industry, with many vessels trapped at ports, cargoes being derailed and freight rates rolling. The disruptions are adding strains to a global supply chain already stressed from two years of pandemic imbalances.
By Katerina Restis
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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- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Planning Commission, India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
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