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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, 31 July 13
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Wednesday, 31 July 13
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- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- The University of Queensland
- Parliament of New Zealand
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
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