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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, 04 June 13
WOOD MACKENZIE SAYS THE CHINA'S THERMAL COAL DEMAND WILL REACH NEARLY 7BTPA BY 2030
COALspot.com - The Illusion of Peak Coal' says that despite efforts to limit coal consumption and seek alternative fuel options, China's strong ap ...
Saturday, 01 June 13
COAL PRICES STRUGGLE TO FIRM UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have gained 0.18 percent week on week and 0.03 percent ...
Saturday, 01 June 13
THE FREIGHT MARKET FOR S7 AND S8 SECTORS ARE EXPECTED TO BE SOFT - VISTAAR
COALspot.com – The freights are remains weak week ended 31 May 2013, as BDI fell 2.05 pct and closed at 809 points on 31 May 2013.
The Cape ...
Friday, 31 May 13
US PRODUCED 18.5 MILLION SHORT TONS OF COAL W/E 25 MAY 2013
COALspot.com – United states the world’s second largest coal producer produced totalled approximately 18.50 million short tons (mmst) of ...
Thursday, 30 May 13
HANDY: RBCT ROUND WAS AROUND USD 9K + 300 BB - FEARNRESEARCH
Handy
THE Atlantic market remained flat. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market remained quiet with no ...
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- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
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