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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, 18 February 23
PAKISTAN PLANS TO QUADRUPLE DOMESTIC COAL-FIRED POWER, MOVE AWAY FROM GAS - REUTERS
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming ...
Saturday, 18 February 23
2023 MARINE FUEL MARKET PREDICTIONS - JOHN BERGMAN, AURAMARINE
The drive for decarbonisation we witnessed in 2022 has continued into 2023, demonstrating the shipping’s industry positive strides in the fas ...
Saturday, 28 January 23
COAL GROWTH BLIP NOT TO BE REPEATED - BALTIC EXCHANGE
As 2022 drew to a close, global coal demand looked set to end the year just 1.2% up on the previous year. But that small increase was enough to pus ...
Thursday, 26 January 23
CHINA'S COAL OUTPUT INCREASES IN DECEMBER 2022 - XINHUA
China’s raw coal output posted stable expansion in December 2022, official data showed.
The country produced 400 million tonne ...
Thursday, 26 January 23
COKING COAL NARROWS THE GAP ON THERMAL AS CHINA REOPENS - REUTERS
The premium of high-grade thermal coal over coking coal in Asia is shrinking as China’s re-opening and ending of a ban on imports from Austra ...
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- Videocon Industries ltd - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
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