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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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Thursday, 13 June 13
HANDY: SHORT PERIOD WERE FIXED AT AROUND USD 9000 LEVEL
Handy
Despite falling rates for bigger sizes, the Supras in Atlantic are seeing some improvements with fresh biz. US Gulf positions fetching tick a ...
Thursday, 13 June 13
BIMCO EXPECTS SUBDUED CAPESIZE EARNINGS FOR THE COMING WEEKS - HELLENIC SHIPPING NEWS
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Thursday, 13 June 13
RIO TINTO AGREES SALE OF EAGLE PROJECT FOR AN ESTIMATED US$325 MILLION IN CASH
COALspot.com - Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated US$325 million in c ...
Thursday, 13 June 13
HARD COAL IMPORTS RISE SHARPLY IN GERMANY IN Q1 2013 - COAL IMPORTERS ASSOCIATION
Coal-fired Power Plants in Germany: Pillars of the Grid and the Energy Turnaround; Hard Coal Consumption and Hard Coal Imports Rise Sharply in Germa ...
Wednesday, 12 June 13
INDONESIAN COAL PRICE REFERENCE SLIDES TO 2013 LOW
COALspot.com - Indonesian Coal Price Reference continues to take its lumps this month, dropping about 0.54 % and hitting a 2013 low. The Indonesian ...
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- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Planning Commission, India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- The University of Queensland
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
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