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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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Monday, 01 July 13
12TH CLEAN COAL FORUM INDONESIA 2013
Press Release: Produced by CDMC Events, The 12th Clean Coal Forum Indonesia 2013 will be held on Dec 5-6,2013 in Jakarta, Indonesia. It will generat ...
Monday, 01 July 13
INDIA AND CHINA STILL DOMINATING THE INDONESIAN THERMAL COAL EXPORT MARKET
COALspot.com: Indonesia, the world's largest multi types coal exporter shipped 35.83* million tons of coal in May 2013, 1.40 per cent l ...
Sunday, 30 June 13
YEAR 2014 INDO SUB-BIT COAL SWAPS EXPECTED TO STAY BELOW 2013 LEVEL
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 delivery have gained 0.08 percent on a day lost on week ...
Sunday, 30 June 13
CAPESIZE RATES SEEN INCREASING ON HIGH DEMAND - VISTAAR
COALspot.com - The BDI continued to rise and saw a big gain on Friday. BDI increased 14 per cent week ended 28 June 2013, closed at 1171 points driv ...
Friday, 28 June 13
U.S. PRODUCED 1.52 PERCENT LESS COAL WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 19.40 million short tons (mmst) of ...
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- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
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