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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, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
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- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
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