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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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Saturday, 10 August 13
DEMOLITION ACTIVITY TO BE CRUCIAL AGAIN IN PROVIDING SUPPORT TO THE DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We appear to have forgotten demolition activity this year, with the Baltic Dry Index gaining traction in the latter part of the second half and emer ...
Friday, 09 August 13
US PRODUCED 4.00 PERCENT LESS COAL ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.00 million short tons (mmst) of ...
Thursday, 08 August 13
HANDY : NO POSITIVE SENTIMENT FOR THE FAR EAST MARKET - FEARNRESEARCH
Handy
No positive sentiment for the Far East market. There are a number of ships coming open in SE Asia this week and owners rating mid/high USD 8k ...
Thursday, 08 August 13
MALAYSIA HOSTS THIRD ANNUAL ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release : The third Annual Asian Sub-Bituminous Coal Users’ Group (ASBCUG) conference convenes Sept. 30-Oct. 3 at the Eastern & Orie ...
Wednesday, 07 August 13
HANDIES : FINDING IT DIFFICULT TO SUSTAIN THEIR PREVIOUS LEVELS - KONSTANTINOS KONTOMICHIS
Broker's insight
by Konstantinos Kontomichis,
SnP Broker
Entering the most predictable month of the year, as expected the seasonal effects ha ...
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- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Planning Commission, India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Australian Coal Association
- Wilmar Investment Holdings
- White Energy Company Limited
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
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