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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, 07 June 13
MEDITERRANEAN COAL MARKETS
Press Release: 3rd International Conference Mediterranean Coal Markets will be held on 16-17th of September 2013, Istanbul, Turkey, Ceylan Intercont ...
Friday, 07 June 13
US'S COAL PRODUCTION INCREASED BY 0.54 PER CENT THE WEEK ENDED JUNE 1
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.60 million short tons (mmst) of ...
Thursday, 06 June 13
WE ARE SEEING SOME FRESH INDO COAL TO CHINA AND INDIA - FEARNRESEARCH
Handy
In the Atlantic, the Gulf remains firm for the next week with a few orders in the market. The Supramaxes are seeing around low 20k for fronth ...
Wednesday, 05 June 13
DON'T AVOID PAYING COAL ROYALTY TO THE GOVERNMENT - INDONESIAN ENERGY MINISTER
COALspot.com – “Every country has the right to make policies to protect their national interests”, Energy and Mineral Resources Mi ...
Tuesday, 04 June 13
NEWCASTLE PORT SHIPPED 2.56 MILLION TONS OF COAL IN A WEEK
COALspot.com - Newcastle port in Australia has loaded 2,563,596 tons of coal for week ended 0700 hours 3 June 2013, Newcastle Port Corp. said ...
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- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
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