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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Australian Coal Association
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
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