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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, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
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- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
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