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Friday, 23 September 22
MARKET INSIGHT - INTERMODAL
 In view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance even after the banning of Russian oil delivered by sea, Russian refined products will be banned within Q1--2023 and crude oil will be banned in December 2022.
Prior further expanding on what is Europe's plan to tackle the energy crisis its important to explain that most of European countries are interconnected on a power grid, which allows energy traders / countries to buy and sell energy on the spot depending on their needs / forecast at that time. Without the Grid infrastructure the energy cost for million households the past year could have been considerably higher than what we've faced.
Last week Berlin moved with seizing the local refining unit of Rosneft in Schwedt, meantime their government is also working to nationalize Uniper SE, steps towards a direction to be more dependent and further control the energy production. Up to now we still haven't seen Russia's retaliation on that move.
Now European diesel buyers are stepping up, the Russian diesel still trades on a discount, but not at the discount traders were enjoying on May, i.e., $30pmt but anything between $6pmt to $10pmt for NEW and Med respectively. Worth mentioning that due to price backwardation (oil prices expected to be lower than the price if were supposed to be bought today) traders are still avoiding cargo stocking as their not adding any value on their books.
Russia to year still supplied 44% of the total diesel supply and Rosneft posted a 13$ rise in midyear profit.
The East CPP MR and LR market remains bullish, with MR's leading the race in Feast markets, at present the MR Pacific basket is averaging $67,000 pdpr. Moving to MEG and WCI market softens slightly but still very healthy rates for MR's and LR1's. 35KT SIKKA/JAPAN stand at $38,000 pdpr and TC5 55KT AG/JAPAN $54.593 PDPR.
MR Atlantic basket has significantly improved since early December with TC2 (37KT ARA/USAC OR WAF stands at $30,441 pdpr for USAC discharge and $35,676 pdpr for WAF. The Backhaul from USG performs poorly if compared to last week $13,598 pdpr and LR1 60KT ARA/WAF $36,000 pdpr.
While Europe is still working on keeping us from freezing the upcoming winter, many traders and government officials express their concerns on how we will manage to keep the engine running under these harsh conditions.
By Dimitris Kourtesis
Tanker Broker
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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
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