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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, 04 September 13
RBCT SHIPPED 16.18 PERCENT MORE COAL IN JULY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest coal export terminal South African as well as in the world has shipped 6,162, ...
Wednesday, 04 September 13
SUPRAS AND HANDIES : INDONESIAN COAL CARGOES ARE SUPPORTING HEALTHY ACTIVITY LEVELS - INTERMODAL
The Dry Bulk market has pooled back a bit this week after firming for two weeks in a row. The BDI is s holding above 1,100 points and despite the sm ...
Tuesday, 03 September 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 22.93 PER CENT MORE COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 22.93 per cent week on week to 3.39 million mt for ...
Sunday, 01 September 13
COAL SWAP SHOWS MIXED TREND
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery 1.25 percent up month on month. The swap was moved posit ...
Sunday, 01 September 13
INDONESIA TO INDIA SPOT FREIGHT STAYS FIRM THIS WEEK - VISTAAR
COALspot.com: The freight market continued to be firm with even though the BDI and Cape index dropped by about 3 pct week on week.
The BDI was do ...
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- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- White Energy Company Limited
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
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