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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, 31 October 22
U.S. COAL-FIRED GENERATION DECLINING AFTER BRIEF RISE LAST YEAR - EIA
We expect 6% less U.S. coal-fired generation in 2022 than in 2021, according to our latest Short-Term Energy Outlook (STEO). Although coal-fired ge ...
Monday, 31 October 22
CHINA COAL OUTPUT UP 12.3 PCT IN SEPTEMBER - XINHUA
China’s raw coal output posted stable expansion in September, official data showed.
The country produced 390 million tonnes of ...
Wednesday, 26 October 22
BIMCO PUBLISHES UPDATED GENCON CONTRACT
BIMCO has published a revised and updated version GENCON 2022 – one of its flagship contracts within its portfolio of standard contracts for ...
Monday, 24 October 22
KOSPO TO INVITE 400,000 MT OF COAL FOR 3 YEARS
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an international tender for 400,000 MT of 3,800 - 4,400kcal/kg NCV and Sulfur Max 0 ...
Wednesday, 19 October 22
ASIA COULD BE A BRIGHT SPOT AMID GLOBAL DOWNTURN NEXT YEAR, ECONOMISTS SAY - CNBC
Asia — especially Southeast Asia — remains a bright spot, even as the global economy looks set to head into recession next year, econom ...
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- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- The University of Queensland
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Central Electricity Authority - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
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