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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, 17 December 20
BUMA SIGNED US$1.0 BILLION WORTH OF EXTENSION CONTRACT WITH BERAU COAL
PT Bukit Makmur Mandiri Utama, subsidiary of PT Delta Dunia Makmur Tbk., has extended its mining services contracts with PT Berau Coal, in relation ...
Wednesday, 16 December 20
INDONESIA 2020 COAL CONSUMPTION ESTIMATED AT 140-145 MLN TONNES - OFFICIAL, REUTERS REPORTED
Indonesia’s domestic coal consumption is estimated at 140-145 million tonnes this year, Dodik Ariyanto, an official at the energy ministry, t ...
Wednesday, 16 December 20
RUSSIA REVISES DOWN EXPORT EXPECTATION - FITCH
The Ministry of Economy of Russia, the world’s third largest thermal coal exporting country, released its annual forecasts ...
Wednesday, 16 December 20
INDIAN COAL IMPORTS TO REMAIN SUBDUED - FITCH RATINGS
Fitch Rating commented on Indian Coal Imports, Fitch said, coal imports by Indian utilities fell by about 24% yoy to 44 million tonnes (mt) i ...
Wednesday, 16 December 20
CHINA TO BOOST DOMESTIC SUPPLY - FITCH
China’s benchmark Qinhuangdao 5,500kcal/kg coal price rose above the government’s upper yellow interval of CNY600/tonne in early Octobe ...
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- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
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