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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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Tuesday, 10 September 13
COAL EXPORTS AT AUSTRALIA'S NEWCASTLE PORT SLIP 30.31% ON WEEK TO 2.36 MMT
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port down 30.31 per cent week on week to 2.36 million mt f ...
Tuesday, 10 September 13
WORLDWIDE COAL CONSUMPTION RISES SHARPLY - RA DR. ERICH SCHMITZ
By: RA Dr. Erich Schmitz, Verein der Kohlenimporteure (Germany Coal Importers Association)
World hard coal market in the first half of 2013: worl ...
Monday, 09 September 13
REBOUND IN NEWBUILDING ORDERS HASN'T HURT DRY BULK MARKET PROSPECTS, BUT SHIP OWNERS SHOULD STILL BE CAUTIOUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Since the start of 2013 and up until the end of August, one thing has really caught the headlines in the dry bulk market, except of course, the frei ...
Sunday, 08 September 13
Q3 2014 THERMAL COAL SWAPS : STEADY DIRECTION
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery up 1.88 percent month on month. The swap was moved ...
Sunday, 08 September 13
BALTIC INDEX UP ON HIGHER CAPESIZE, PANAMAX RATES
COALspot.com : The freight market continued saw one of the biggest rally last week with Cape Size taking the lead followed by Panamax.
The BDI wa ...
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- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
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