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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, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Australian Coal Association
- White Energy Company Limited
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- London Commodity Brokers - England
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