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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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Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- The University of Queensland
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Planning Commission, India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Central Electricity Authority - India
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