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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, 20 September 22
CHINA COAL OUTPUT UP 8.1 PCT IN AUGUST - XINHUA
China’s raw coal output posted stable expansion in August, official data showed.
The country produced 370 million tonnes of ra ...
Monday, 19 September 22
BUMA AUSTRALIA AWARDED A$400 MILLION CONTRACT EXTENSION BY BMA FOR GOONYELLA PROJECT
Press Release – PT Delta Dunia Makmur Tbk. (the "Company") announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA ...
Saturday, 17 September 22
CHINA WARNS COAL COMPANIES AGAINST DUAL CONTRACTS, KEEP PRICES STABLE - REUTERS
China’s state economic planner warned coal companies operating at ports in the Bohai Bay region to comply with their long-term contracts to k ...
Saturday, 17 September 22
IS A GLOBAL RECESSION IMMINENT? - WORLD BANK
Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising inflation and tightening financing conditions, has i ...
Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
...
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- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
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