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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, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
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- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- The University of Queensland
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
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