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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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Wednesday, 26 August 20
ASIAN COAL PRICES LIKELY TO REMAIN DEPRESSED SAY TRADERS, ANALYSTS - REUTERS
Asian coal prices, which have fallen around 25% this year as power demand slumped due to the coronavirus outbreak, are unlikely to move higher befo ...
Wednesday, 26 August 20
WORLD COAL EXPORTS: INDONESIAN THERMAL COAL EXPORTS HAVE COME UNDER PRESSURE AS THERMAL COAL PRICES WEAKEN - REPORT
Indonesia’s exports to decline sharply from record highs
Indonesia is the world’s largest thermal coal exporter, sellin ...
Wednesday, 26 August 20
JAPAN'S COAL IMPORTS ARE BEING AFFECTED BY COMPETING INFLUENCES - REPORT
Japan is the world’s third largest thermal coal importer, importing an estimated 135 million tonnes of thermal coal in 2019. The country&rsqu ...
Wednesday, 26 August 20
PENDING SOUTH KOREA LEGISLATION COULD FORCE HALT TO COUNTRY’S COAL PLANT EXPORT DEALS - KOREA ECONOMIC DAILY
South Korea’s parliament looks set to pass new legislation to ban financing on foreign coal power projects, putting all overseas coal-fired p ...
Tuesday, 25 August 20
INDIA'S IMPORTS FALL AS LOCKDOWNS IMPACT THE POWER AND INDUSTRIAL SECTORS - REPORT
India is the world’s second largest thermal coal consumer and importer, importing an estimated 211 million tonnes of thermal coal in 2019.&nb ...
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- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- The Treasury - Australian Government
- VISA Power Limited - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
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