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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
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