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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, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
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- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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