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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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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Mercator Lines Limited - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
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