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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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Tuesday, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- The University of Queensland
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
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