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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, 04 October 22
INDONESIAN COAL PRICE REFERENCE SURGE AGAIN TO RECORD HIGH
COALspot.com: Indonesian Coal Price Reference reached another record high in October as Russia's war in Ukraine continues to spark a surge in c ...
Sunday, 02 October 22
MISC STRENGTHENS ITS PARTNERSHIP WITH SEARIVER MARITIME
MISC Berhad (MISC) today announced that its subsidiaries Polaris LNG Three Pte. Ltd. and Polaris LNG Four Pte. Ltd. have secured long-term time cha ...
Thursday, 29 September 22
MARKET INSIGHT - INTERMODAL
This week, focus turns to the 38th APPEC Conference, where leading professionals from the global oil industry will discuss the future key drivers o ...
Thursday, 29 September 22
HIGH COAL PRICES REMAIN A CONCERN FOR DOMESTIC NON-FERROUS METAL COMPANIES - ICRA
According to ICRA on Monday, the high price of coal will have a negative effect on the profitability of domestic non-ferrous metal companies that m ...
Tuesday, 27 September 22
14% INCREASE IN EUROPEAN COAL DEMAND TO BE SHORT-TERM TREND - WOOD MACKENZIE
European seaborne thermal coal demand is projected to increase 14% or 12 million metric tonnes (Mt) this year to 98 Mt as it grapples with the curr ...
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- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Planning Commission, India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
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