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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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Friday, 12 July 13
U.S. PRODUCED 18.40 MMST COAL WEEK ENDED 6 JULY 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.40 million short tons (mmst) of ...
Thursday, 11 July 13
PANAMAX: PACIFIC ROUND PAY AROUND $6,500/D; ATLANTIC ROUND VOYAGE PAY AROUND US$ 10,000/D - FEARNLEYS AS
Handy
The Feast market is quiet, July date cargoes remain unfixed as there is a gap between what owners aiming and charterers willing to pay. There ...
Wednesday, 10 July 13
DRY BULK MARKET IS STILL STRUGGLING TO SURVIVE - INTERMODAL
COALspot.com : With the first half of the year now behind us and, as expected, most shipping segments in the dry bulk market are struggling to survi ...
Tuesday, 09 July 13
COAL PRICE REMAINS SLUGGISH - TRIMEGAH
COALspot.com - Newcastle coal price has reached US$ 76.30/ton (-15.9% YTD), bringing YTD’13 average to stand at US$ 87.90/ton, 6.80% lower tha ...
Tuesday, 09 July 13
NEWCASTLE COAL EXPORTS JUMP 27.53% ON WEEK TO 2.97 MILLION MT
COALspot.com - Newcastle Coal exports up 27.53% to 2.97 million tons W-o-W.
Newcastle port in Australia has loaded 2,974,715 tons of coal for the ...
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- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
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