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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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Wednesday, 17 July 13
NEWCASTLE COAL EXPORTS FELL 3.85% ON WEEK
COALspot.com: Newcastle port in Australia has loaded 2,860,149 tons of coal for the week ended 0700 hours 15 July 2013, Newcastle Port Corp. s ...
Wednesday, 17 July 13
TORN BETWEEN A CREDIT CRUNCH AND SUSTAINABLE GROWTH - GEORGE DERMATIS
COALspot.com: In 2012 China expanded at a rate of 7.8%, its worst annual performance in 13 years, raising criticism over the newly appointed governm ...
Tuesday, 16 July 13
TAKE - OR - PAY CONTRACTS CONTINUE TO INCENTIVISE AUSTRALIAN COAL PRODUCERS DESPITE POTENTIAL NEGATIVE CASH MARGINS - WOOD MACKENZIE
Australia's coal production has continued to grow, despite lower coal prices in 2013. Global investors and suppliers are therefore questioning whet ...
Monday, 15 July 13
INDONESIAN GOVERNMENT HAS REVISED DOWN ITS JULY BENCH-MARK COAL PRICE TO US$ 81.69 PER MT
COALspot. com - Indonesian Coal Price Reference dropped 3.75 % and hitting a 2013 low. The Indonesian government has revised down its owned coal ben ...
Monday, 15 July 13
INDO COAL SWAPS ARE STRUGGLING FOR RIGHT DIRECTION
COALspot.com – Indo coal swaps are struggling to find the right direction. Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 d ...
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- ASAPP Information Group - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
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