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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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Saturday, 23 July 22
STABILITY OF RUSSIAN GAS FLOWS REMAIN UNCERTAIN, DESPITE THE REOPENING OF NORD STREAM - WOOD MACKENZIE
Gazprom confirmed today that regular annual maintenance of Nord Stream is officially over and gas flows restarted at 63 million cubic metres per da ...
Friday, 22 July 22
MARKET INSIGHT - INTERMODAL
Faced with uncertainty regarding the most cost-efficient alternative fuels and the future dominant method to reduce their greenhouse emissions, man ...
Friday, 22 July 22
YANCOAL AUSTRALIA CUTS 2022 COAL OUTPUT VIEW AS FLOODS, COVID BITE - REUTERS
Coal miner Yancoal Australia Ltd YAL.AX cut its 2022 output forecast on Wednesday, signalling a hit from higher-than-expected rainfall, COVID-19-le ...
Wednesday, 20 July 22
BOOST FOR BIOFUELS AS IMO REMOVES REGULATORY HURDLE - GARD
MARPOL Annex VI regulations were written for petroleum derived fuels but also apply to biofuels. It has been a challenge to meet the regulatory req ...
Wednesday, 20 July 22
INDONESIA’S COAL EXPORTS TO THE EU INCREASED SIGNIFICANTLY RECENTLY
European countries have increased coal imports from Indonesia due to the energy crisis that hit the region after Russia cuts gas exports to Europe. ...
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- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
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