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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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Thursday, 25 July 13
CAPESIZE : PACIFIC AND ATLANTIC RATES ARE HOLDING STEADY - FEARNLEYS AS
Handy
The Far East market remains quiet even if some Indo coal trip orders were fed in the market at early this week. Prompt ships passing Singapor ...
Thursday, 25 July 13
SUMMER LULL CHIPPING AWAY RECENT GAINS IN DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In what seems to be establishing as a permanent trend, at least for the time being, the dry bulk market kept on retreating yesterday, even if this r ...
Tuesday, 23 July 13
NEWCASTLE'S COAL EXPORTS CLIMB 17.82% ON WEEK, PORT'S DATA SHOWS
COALspot.com: Newcastle port in Australia has loaded 3,369,865 tons of coal for the week ended 0700 hours 22 July 2013, Newcastle Port Corp. s ...
Monday, 22 July 13
DRY BULK MARKET DIFFICULT TO MAINTAIN POSITIVE DRIVE CLAIMS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has seen a significant recovery in recent weeks, leading most ship classes to earnings above their operating expenses, thus brin ...
Monday, 22 July 13
INDO COAL SWAP FOR AUGUST 13 DELIVERY GAINED ON WEEK BUT LOST ON DAY AND MONTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 delivery slightly up on week but fell on day and month on Fri ...
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- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
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