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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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Thursday, 06 October 22
COAL INDIA ASKED TO ENHANCE SUPPLY TO THERMAL POWER PLANTS - IANS
With the festival season round the corner, Coal India Ltd. has been directed by the government to scale up dispatch to thermal power plants.
&n ...
Wednesday, 05 October 22
BUNKER PRICES DOWN AGAIN; IS THERE MORE TO COME? - INTEGR8 FUELS
It’s the economy…..”
VLSFO prices are now back to levels at the start of this year. After all the extremes of thi ...
Tuesday, 04 October 22
A REMARKABLE SHIFT IN FORTUNES HAS BEEN NOTED IN THE CRUDE OIL TANKER MARKETS - ALLIED SHIPPING
A remarkable shift in fortunes has been noted in the crude oil tanker markets over the past month, yet despite these shifts being seemingly in thei ...
Tuesday, 04 October 22
OIL PRICES COULD SOON RETURN TO $100 AS OPEC+ CONSIDERS ‘HISTORIC’ CUT, ANALYSTS SAY - CNBC
An influential alliance of some of the world’s most powerful oil producers is reportedly considering their largest output cut since the start ...
Tuesday, 04 October 22
INDONESIAN COAL PRICE REFERENCE SURGE AGAIN TO RECORD HIGH
COALspot.com: Indonesian Coal Price Reference reached another record high in October as Russia's war in Ukraine continues to spark a surge in c ...
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- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
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