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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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Wednesday, 29 May 13
SHIP OWNERS KEEP ON SPENDING ON NEWBUILDINGS AS PRICES ARE DEEMED TOO LOW TO RESIST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It's been yet another week on increased newbuilding ordering activity with Hellenic ship owners appearing rathe active, on the back of attractive f ...
Tuesday, 28 May 13
NEWCASTLE PORT SHIPPED 9.76 PERCENT MORE COAL W/E 27 MAY 2013
COALspot.com - Newcastle port in Australia has loaded 2,420,366 tons of coal for week ended 0700 hours 27 May 2013, Newcastle Port Corp. said ...
Sunday, 26 May 13
AMPLE SUPPLY, LOW DEMAND KEEP COAL PRICES UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.07 percent and API 8 CFR South China Coal shipment los ...
Friday, 24 May 13
ENGAGEMENT WITH POTENTIAL STRATEGIC AND OFF TAKE PARTNERS ACCELERATING - REALM RESOURCES
COALspot.com - Following the recent completion of the Feasibility Study, the Realm Resources Ltd. (ASX: RRP) has focused on securing strategic ...
Friday, 24 May 13
US'S COAL PRODUCTION INCREASED WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.90 million short tons (mmst) of ...
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- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- PTC India Limited - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
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