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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, 09 July 13
CAPESIZE: SHOT UP; PANAMAXES: NOT SO LUCK; SUPRAS: SLIGHTLY BETTER; HANDIES: SOFT - INTERMODAL
COALspot.com : June 2013 Recap
A renewed Capesize market this month (June 2013) was the cause for much of the overall noteworthy performanc ...
Tuesday, 09 July 13
THE 11TH DEEP COAL PROCESSING FORUM 2013
Press Release : The 11th Deep Coal Processing Forum 2013 will be held in November Beijing China.
CDMC Events is pleased to announce that 11 ...
Monday, 08 July 13
ECO-FRIENDLY COAL FOR CHINA - VALUE FOR THE ENVIRONMENT AND VALUE FOR THE POWER GENERATOR - BY: LINDSAY JUNIPER
COALspot.com : January 2013 saw an episode of extreme particulate pollution in Beijing 35 times worse than the safe level recommended by the World H ...
Sunday, 07 July 13
FREIGHT MARKET IS EXPECTED TO BE SOFT TO STABLE NEXT WEEK- VISTAAR
COALspot.com - The freight market softened for the week ended 5 July 2013, and experienced a decline in all sectors, including BDI. Bulk dry Index d ...
Sunday, 07 July 13
COAL PRICES REMAIN UNDER PRESSURE
COALspot.com – Coal swaps for the year 2014 indicate that, the pressure on coal prices will continue at least until next year. Ave ...
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- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Australian Coal Association
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
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