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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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Friday, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
Monday, 12 September 22
COAL PRICE HIKE REMAINS DIFFICULT FOR CIL: CHAIRMAN TELLS ANALYSTS - PTI
Coal India on Thursday informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with h ...
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- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
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