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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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Tuesday, 26 April 22
CHINA'S APPETITE FOR BAUXITE HITS NEW RECORD AS Q1 IMPORTS JUMP 15.4% Y/Y - BIMCO
Bauxite shipments arriving in China hit new record levels in the first quarter of 2022 and grew at an average annual rate of 12.8% between 2017 and ...
Tuesday, 26 April 22
INDIA'S COAL IMPORTS ARE SHIFTING, THERMAL MORE THAN COKING - REUTERS
India’s coal imports are starting to reflect shifting world trade and pricing dynamics in the wake of Russia’s invasion of neighbouring ...
Monday, 18 April 22
GERMAN COAL IMPORTERS EXPECT A BRIEF SPIKE IN PRICES ON EU BAN - REUTERS
A European Union embargo on Russian coal imports will push up prices in the short term before alternative supplies become available to steady the c ...
Monday, 18 April 22
FINNISH 'LOOPHOLES' ALLOW IMPORTS OF RUSSIAN COAL AND OIL TO CONTINUE - EURONEWS
Activists in Finland are calling for the government to clamp down faster on state-owned companies that continue to import raw materials from Russia ...
Monday, 18 April 22
GOVT IN DISCUSSION WITH WORLD BANK ON FRAMEWORK FOR COAL MINE CLOSURE - BUSINESS STANDARD
The coal ministry is in discussions with the World Bank for collaboration on the mine closure framework, a government official said on Wednesday.
...
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- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
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