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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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Friday, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
...
Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
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- Heidelberg Cement - Germany
- The Treasury - Australian Government
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
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