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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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Wednesday, 19 October 22
WHAT WILL THE GAS MARKET LOOK LIKE IN A NET ZERO WORLD? - WOOD MACKENZIE
The global gas and LNG market faces a number of ‘great unknowns’. With the market in turmoil uncertainty abounds – from the scale ...
Wednesday, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
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- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Planning Commission, India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
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