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Wednesday, 05 October 22
MARKET INSIGHT - INTERMODAL
 Amid the looming western sanctions on Russia, the country is challenged to pivot its energy markets away from Europe and toward the East. Yet, Russia has been considering exports of oil and gas from its Eastern territories to Asia-Pacific countries since the early 1970s, when the authorities recognized an opportunity to supplement the country’s West Siberian Output. Political instabilities, though, paired with uncertainty on Chinese and Japanese demand have substantially obstructed any course of action.
Pre-invasion, 60% of the country’s oil exports were directed to European countries and about 20% to China, either through pipelines or via seaborne routes, making it, thus, easier to redirect compared to gas. However, since the invasion of Ukraine and the announcement of sanctions, oil has gradually shifted towards the main Asian importers, China, and India, and to some new, albeit considerably smaller, customers, such as Sri Lanka, Egypt, and Indonesia. It is questioned, though, how effectively the country’s exports will be redirected to its emerging Asian customers.
Currently, 85% of the country’s production is clustered around West Siberia, Timan-Pechora, and the Volga Urals. As a result, exports are heavily concentrated in the Black Sea and Baltic ports, thus, trebling the voyage distance and inflating costs and freights. Due to logistic issues and insufficient infrastructure between the above regions and the country’s eastern terminals, the redirection of the country’s oil exports is challenged.
The maturity of the Western fields paired with the western sanctions on oil have urged the country to increase production from its East Siberian fields. During the past decade, East Siberian oil output gradually surged to 700,000 b/d. Meanwhile, the oil output from its mature West Siberian fields is estimated to decrease by 2m b/d over the next decade. Rosneft’s new Vostok Oil Megaproject, located at the northern junction of East and West Siberia, is set to add 1.5m b/d by 2030, with a target of 2m b/d. The project also includes the construction of Bukhta Sever Port which is set to become the country’s largest oil terminal and facilitate the development of the Northern Sea Route, while it is also going to test the country’s resilience to western sanctions. Since the voyage distance via the Northern Sea Route to the Far East could save up to 20 days off the shipping time spent compared to the Suez Canal route, vessels’ tonne-miles could be almost halved. Although the North Sea Route will provide more flexibility to the shippers and facilitate the current supply chain constraints, it is expected to provide some inconvenience as well due to its operational seasonality. Arctic sea lanes are estimated to be ice-free during the summertime by 2035, according to scientists, however, the lack of predictability will continue to overweigh the savings on shipping costs and time.
Overall, in the mid-term and within the next five years, the global oil market will be highly volatile and fragmented. Russia will be forced to reposition itself amid the realignment of the energy markets, however, the efficiency of the country’s relationship establishment with Asian customers is yet to be witnessed.
By Chara Georgousi
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 December 22
INDONESIAN COAL PRICE REFERENCE PLUNGE TOWARD US$ 281.48 A TON AS DEMAND DROPS WORLDWIDE
COALspot.com: The cost of coal is falling so fast that it is beginning to put real money back in the pockets of end-users.
Indonesia ...
Wednesday, 30 November 22
INDONESIA’S BUMI RESOURCES TARGETS 2023 COAL OUTPUT OF 80 MLN TONNES - REUTERS
Indonesian coal miner PT Bumi Resources Tbk BUMI.JKis eyeing a 10% increase in output to 80 million tonnes next year amid expectations for more fav ...
Wednesday, 30 November 22
TANKERS: LONGER HAULS TO SUPPORT CONTINUED STRENGTH - BIMCO
Highlights
A rebound in the dirty tanker trade has led the Baltic Exchange Dirty Index (BDTI) to increase by 64% since our last report from mid ...
Wednesday, 30 November 22
MARKET INSIGHT - INTERMODAL
Shipping, although a conservative and innovation adverse industry, is currently in a transition period of digital transformation. According to a su ...
Tuesday, 29 November 22
INDIA TO RECEIVE FIRST LNG CARGO FROM INDONESIA’S TANGGUH LNG - REUTERS
India will receive its first cargo from Indonesia’s Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a ...
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- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
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