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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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Tuesday, 22 December 20
SOUTHEAST ASIA'S COAL DEMAND IS SET TO EXPAND AFTER THE PANDEMIC-INDUCED HIATUS IN 2020 - IEA
Coal consumption in Southeast Asia has more than doubled in the last decade, with the largest growth in Indonesia and Viet Nam, followed by Malaysi ...
Tuesday, 22 December 20
COAL DEMAND IS RISING QUICKLY IN PAKISTAN AND MORE SLOWLY IN BANGLADESH - IEA
Pakistan had 150 MW of installed coal power capacity in 2015. Since 2017, in addition to a few small plants for industry, Pakistan has commissioned ...
Tuesday, 22 December 20
AFRICA PERSPECTIVE INDICATES NO MAJOR SHIFTS FOR COAL CONSUMPTION - IEA
Overall countries on the African continent consumed 197 Mt of coal in 2019, 12 Mt less (-6%) than 2018.
South Africa, the continent& ...
Monday, 21 December 20
COAL PRICES WITHSTAND DESPITE COVID-19 AND CHINESE IMPORT QUOTAS - IEA
Coal prices vary by region as well as by grade and quality. The price rebound starting in 2016 ended in 2018, moving in a downward trend in 2019. A ...
Monday, 21 December 20
COAL'S PARTIAL RECOVERY IS SET TO FADE AFTER 2021 - IEA
Global coal consumption is estimated to have fallen by 7%, or over 500 million tonnes, between 2018 in 2020. A decline of this size over a two-year ...
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- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
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