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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, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
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