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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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Monday, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
That’s what’s expected to happen to Australia’s economy “when” China st ...
Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
Thursday, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...
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- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
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