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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 21 August 13
DRY BULK SHIPPING - POSITIVE WINDOW FOR CAPESIZE OWNERS - PETER SAND
By: Peter Sand, Chief Shipping Analyst, BIMCO
Demand:
“Expect the unexpected from the dry bulk market” was what we wrote last time ar ...
Wednesday, 21 August 13
RATES FOR CAPES MOVED DECISIVELY NORTH THIS WEEK - INTERMODAL
COALspot.com - Right when the BDI seemed ready for another dive below the 1000 points level, the Dry Bulk market made significant comeback this week ...
Tuesday, 20 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS FALL 19.15 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 19.15 per cent week on week to 2.39 million mt f ...
Tuesday, 20 August 13
CAPESIZE RATES MORE SENSITIVE TO DEMAND - COMMODORE RESEARCH & CONSULTANCY
COALspot.com : Approximately 71.50 million tons of iron ore is now stockpiled at Chinese ports, 900,000 tons (-1%) less than a week ago, Commodore R ...
Sunday, 18 August 13
SUB-BIT FOB INDONESIA COAL SWAP : ON POSITIVE DIRECTION ON DAY, WEEK AND MONTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery US$ 1.83 up month on month. The swap was moved positive ...
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- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Australian Coal Association
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
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