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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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Sunday, 21 August 22
COAL-RICH POLAND FACES WINTER OF ENERGY DISCONTENT - DW
Poland uses 10 million tons of coal a year to heat households — a whopping 87% of all coal consumed in EU homes in 2019, according to the War ...
Saturday, 20 August 22
KOSPO TO IMPORT 240000 MT OF MIN 4400 KCAL/KG NCV STEAM COAL FOR OCTOBER;LOADING FROM RUSSIAN PORTS NOT ALLOWED
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 240,000 MT of min 4,400kcal/kg to max. 4,999 kcal/kg NC ...
Wednesday, 17 August 22
INDIAN COMPANIES SWAPPING DOLLAR FOR ASIAN CURRENCIES TO BUY RUSSIAN COAL - REUTERS
Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoidi ...
Wednesday, 17 August 22
LNG: MAJOR INVESTMENT AND EXPANSION PHASE, DOUBLING OF LIQUEFACTION CAPACITY BY 2028 PROJECTED - CLARKSONS
Clarksons Research have released the latest version of their long standing annual review, LNG Trade & Transport, on to Shipping Intelligence Ne ...
Wednesday, 17 August 22
UNAFFORDABLE LNG PRICES UNDERMINE RAPID DEMAND GROWTH FORECASTS IN KEY ASIAN MARKETS - IEEFA
Sustained high prices may accelerate downward pressures on Asian LNG demand, clouding long-term industry outlooks
The global liquefi ...
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- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
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