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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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Sunday, 04 August 13
COAL SWAP MARKET HAS LOST DIRECTION; STRUGGLING TO CATCH UP
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average October 2013 delivery slightly down on day, week and month on Friday, 2 A ...
Sunday, 04 August 13
INDONESIA TO INDIA SUPRAMAX FREIGHT SOFT DUE TO HOLIDAYS IN INDONESIA - VISTAAR
COALspot.com : The freight market was fairly steady this week with the BDI recovering towards north since second half of the week with the support o ...
Friday, 02 August 13
DRY BULK MARKET STABILIZES ON RENEWED MARKET ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its positive footing this week, although it's still a far cry to deem the market situation as a growing one, especiall ...
Friday, 02 August 13
ASIA ACCOUNTS FOR 27.95 PERCENT OF US COAL EXPORTS IN Q1, 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.80 million short tons (mmst) of ...
Thursday, 01 August 13
CAPESIZE: THE FLOW OF CARGOES REMAINS RELATIVELY STABLE, AND THE PACIFIC IS LOOKING PROMISING - FEARNLEYS AS
Handy
The Pacific market is still facing low activity, so no wonder that the tonnage list is getting longer. It´s still Ramadan and only a fe ...
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- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- The University of Queensland
- Minerals Council of Australia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
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