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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, 12 September 22
COAL PRICE HIKE REMAINS DIFFICULT FOR CIL: CHAIRMAN TELLS ANALYSTS - PTI
Coal India on Thursday informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with h ...
Friday, 09 September 22
GREECE WILL KEEP COAL-FIRED PLANTS RUNNING FOR LONGER AMID GAS CRISIS - REUTERS
Greece will keep seven coal-fired plants running for longer than previously planned as European countries adjust to a cut in gas flows coming from ...
Friday, 09 September 22
CHINA'S DROUGHT INTENSIFIES GLOBAL COAL SHORTAGE - REUTERS
China’s drought has sent coal prices surging as traders anticipate the lack of hydroelectric generation will force it to burn more coal to me ...
Thursday, 08 September 22
MOODY.S AFFIRMS ABM INVESTAMA'S B1 RATINGS FOLLOWING PLANNED MINORITY INVESTMENT IN COAL MINER; OUTLOOK STABLE
Moody's Investors Service has affirmed ABM Investama Tbk (P.T.)'s B1 corporate family rating (CFR), along with the B1 rating on its senior ...
Thursday, 08 September 22
MARKET INSIGHT - INTERMODAL
While the energy markets are historically stretched, Russian flows of crude oil are closely monitored as the oil trade is ultimately realigned. Mor ...
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- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Mercator Lines Limited - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
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