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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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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- White Energy Company Limited
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
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