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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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Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
Wednesday, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
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- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
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