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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, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
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- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Australian Coal Association
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
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