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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, 21 December 20
A REBOUND IN GLOBAL COAL DEMAND IN 2021 IS SET TO BE SHORT-LIVED, BUT NO IMMEDIATE DECLINE IN SIGHT - IEA
After a major drop in recent years, global coal demand is forecast to rise by 2.6% in 2021 before flattening out to 2025
A global ec ...
Friday, 18 December 20
AUSTRALIA PM WARNS OF ‘LOSE-LOSE’ IN ANY CHINA COAL SHIFT - REUTERS
Australian Prime Minister Scott Morrison said any shift by China away from importing high quality Australian coal would be a “lose-lose&rdquo ...
Friday, 18 December 20
BIG OIL AND COAL EXPORTERS FACE RECKONING AS PARIS AGREEMENT TURNS FIVE - CNA
On Dec 12, more than 70 global leaders came together at the UN’s Climate Ambition Summit, marking the fifth anniversary of the Paris Agreemen ...
Friday, 18 December 20
SOUTH AFRICAN COAL EXPORTERS LARGELY DEPENDENT ON THE ASIAN MARKETS - BANCHERO COSTA
South Africa is the fourth largest exporter of coal in the world, after Australia, Indonesia and Russia. In calendar 2019 the country exported a to ...
Thursday, 17 December 20
CHINA'S BAN IS LESS OF A THREAT TO AUSTRALIA'S COAL INDUSTRY THAN INTERNATIONAL CLIMATE AMBITION - IEEFA
Australian coal exporters will survive this near-term political fight but there are longterm structural headwinds
The decision by Ch ...
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- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Mjunction Services Limited - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- White Energy Company Limited
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
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