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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
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