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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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Tuesday, 30 July 13
AUSTRALIA'S NEWCASTLE SHIPPED 12.58 PERCENT LESS COAL W-O-W
COALspot.com: Newcastle port in Australia has loaded 2,945,848 tons of coal for the week ended 0700 hours 29 July 2013, Newcastle Port Corp. s ...
Monday, 29 July 13
INDONESIA'S ENERGY NEEDS COULD SPELL GOOD NEWS FOR TANKER OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite abundant energy resources, Indonesia has still failed meet its own demand, which led to a rising import of crude. According to the latest we ...
Sunday, 28 July 13
SUB-BIT INDONESIA COAL SWAP UP SLIGHTLY FOR SEPTEMBER CARGOES
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average September 2013 delivery slightly up on day and week but fell on month on ...
Saturday, 27 July 13
CEPL INDIA TO BAG 0.3 MILLION TONS OF COAL SUPPLY ORDER FROM TNPL
COALspot.com - An India based coal trader Coastal Energy Private Limited has offered the lowest price of US$ 73.00 per metric ton for calorific valu ...
Saturday, 27 July 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN STEADY - CAPT.REDDY
COALspot.com : The freight market seemed to soften this week with BDI , Cape and Panamax indices dropped average 5 percent on week.
The BDI was d ...
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- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Australian Coal Association
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- The University of Queensland
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
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