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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 $36,000 pdpr.
While Europe is still working on keeping us from freezing the upcoming winter, many traders and government officials express their concerns on how we will manage to keep the engine running under these harsh conditions.
By Dimitris Kourtesis
Tanker Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 02 September 22
ABM INVESTAMA BUYS 30% GEMS SHARES FOR US$ 420 MILLION
PT ABM Investama Tbk through its indirect subsidiary, bought a 30% stake in the PT Golden Energy Mines Tbk for US$ 420 million or around Rp 6.2 tri ...
Wednesday, 31 August 22
MARKET INSIGHT - INTERMODAL
Scorching temperatures and extremely dry conditions during the Northern hemisphere summer have been drying crops. Yield prospects have subsided in ...
Tuesday, 23 August 22
HIGH COAL PRICES COULD BOOST INDONESIA'S ENERGY TRANSITION - IEEFA
Global coal prices have reached an all-time high as countries stop purchasing Russian coal amidst the Russia-Ukraine conflict. Indonesian coal comp ...
Tuesday, 23 August 22
A COMBINED US$6.8-BILLION CASH BALANCE OF INDONESIAN COAL COMPANIES COULD PROVIDE FOR TIMELY INVESTMENTS IN GREEN TRANSITION - IEEFA
A combined US$6.8-billion cash balance of Indonesian coal companies could provide for timely investments in green transition
The opp ...
Tuesday, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
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- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- MS Steel International - UAE
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
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