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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Minerals Council of Australia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
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