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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, 27 June 13
US COAL EXPORTS BEATS CHINESE COAL IMPORTS AS THE MOST INFLUENTIAL COAL TRADE - BIMCO
The influence of American coal exports on seaborne transportation has grown significantly over the past decade. In 2002, the US exported 20.1 millio ...
Thursday, 27 June 13
HANDY : USD 12000 FOR SPOT COAL INDO/CHINA AND AROUND USD 13000 INDO/ECI - FEARNLEYS
Handy
Atlantic rates hold well. Continent to Far East is worth more than USD 14k daily whilst USG to Far East pay 23/24k a day. On the route from B ...
Thursday, 27 June 13
DRY BULK CARRIERS DOMINATE NEWBUILDING ORDERS AS SHIP OWNERS ARE ENCOURAGED BY LATEST FREIGHT RATE RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders for dry bulk carriers were already high, compared to last year, prior to the latest rally of the Baltic Dry Index (BDI), which ha ...
Tuesday, 25 June 13
CAPESIZE MARKET TO REMAIN BULLISH SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been experiencing its long-awaited rally, with the Baltic Dry Index, the industry's benchmark rising to healthier levels fo ...
Tuesday, 25 June 13
NEWCASTLE PORT SHIPPED OUT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,101,378 tons of coal for the week ended 0700 hours 24 June 2013, Newcastle Port Corp. ...
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- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Minerals Council of Australia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Australian Coal Association
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
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