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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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Monday, 12 August 13
GBCE SUCCESSFUL IN UPGRADING LOW RANK INDONESIAN COAL ON INDUSTRIAL SCALE
COALspot.com : GB Clean Energy Ltd. (GBCE) has annoused that, the company has successfully upgraded 2,426 tonnes of low rank 4,018 kcal NAR Ind ...
Monday, 12 August 13
INDIA - SAFE SHIPMENT OF IRON ORE FINES FROM INDIAN PORTS - WEST OF ENGLAND P&I CLUB
As Members may be aware, in 2009 two ships, the ‘Asian Forest’ and the ‘Black Rose’, capsized and sank following the liquefa ...
Sunday, 11 August 13
INDONESIAN COAL SWAPS : FLAT ON DAY
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery flat on day due to holidays in Indonesia, Malaysia & ...
Sunday, 11 August 13
SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA CONTINUED TO BE SOFT - VISTAAR
COALspot.com : The freight market was soft this week with all indices down , the reason could be long weekend holidays in Indonesia, Singapore and M ...
Saturday, 10 August 13
MOODY'S: OUTLOOK FOR US COAL INDUSTRY CHANGES TO STABLE FROM NEGATIVE
Moody's Investors Service has changed its outlook for the US coal industry to stable from negative, the rating agency says in a new report, "U ...
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- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Planning Commission, India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Bhatia International Limited - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
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