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Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
 Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed their upward trend since August 20th.
Brent futures have been trading higher over the past couple of weeks, with hurricane Ida idling US Gulf oil production and providing support. In addition, traders saw a buying opportunity following the OSP price cuts into Asian refineries. Positive news on Covid developments and also Chinese data suggesting crude oil inventories stand at the lowest level since June 2020 are also interpreted as bullish for oil consumption and economic momentum ahead.
Numerous countries in Asia Pacific are easing certain Covid-19 restrictions, such as Thailand, New Zealand and Hong Kong, while the South African variant slowed in August according to scientists, all supporting oil demand expectations. Generally, Europe has emerged as a “center of strength” for road fuels demand as the economies opened during the summer period, where people have naturally used more road transportation vs air during the travel season. Nevertheless, according to real time traffic data, European road fuels demand dropped by around 5% or 3-400,000 bpd m/m in August that had a slow start, from the recent peak in July. However, recent news are positive for Brent as European traffic has been picking up by two percent over the past two weeks. Overall, global road traffic congestion levels continue to pick up over the past two weeks, a trend that has emerged since mid-August. Robust gasoline demand and low inventories in both sides of the Atlantic Ocean also lend support to light-sweet crude benchmarks such as Brent.
Additionally, we have noted that the Chinese crude imports rose to a five-month high of 10.5 million bpd in August, driven by state backed oil refineries. The question is whether this trend in China’s crude imports will remain upwards in the coming months. That is a difficult question to answer, as it also depends on government policies on quotas and use of strategic reserves, as per analysts’ consensus.
The Asian market seems to have the potential for an increase in crude oil imports from Middle East as OPEC+ releases production, while US crude oil production is lagging behind along with refinery activity after the recent hit of Hurricane Ida. The hurricane Nicholas following this week is yet to show its effect, but overall it looks like the oil supply tightness in the West is exacerbating, which increases the call on OPEC+ to satisfy rising crude oil demand projected through the 4th quarter of the year.
By Apostolos Rompopoulos,
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Planning Commission, India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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