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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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Wednesday, 10 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
Saturday, 06 August 22
SUMITOMO Q1 PROFIT RISES 45% ON STRONGER PRICES OF COAL, NICKEL - REUTERS
Japanese trading house Sumitomo Corp 8053.T said on Wednesday its net profit for the April-June quarter rose 45% to a record thanks to higher price ...
Saturday, 06 August 22
GERMANY'S ENERGY U-TURN: COAL INSTEAD OF GAS - DEUTSCHE WELLE
Berlin has realized it will never again import as much energy from Russia as before the Ukraine war. So the challenge is to wean Germany off its de ...
Saturday, 30 July 22
NUANCES OF FORCE MAJEURE CLAUSE - BALTIC EXCHANGE
Knowledge to Elevate
In NKD Maritime Limited v. Bart Maritime (No 2) Inc (Shagang Giant) [2022] EWHC 1615 (Comm), Bart Maritime (No 2) Inc (th ...
Saturday, 30 July 22
AEMO URGES QUICKER SHIFT TO RENEWABLES AMID COAL FAILURES AND SOARING FOSSIL FUEL COSTS
The Australian Energy Market Operator has called for an accelerated shift to wind and solar, backed up by batteries and other storage, as a devasta ...
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- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
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