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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, 04 February 22
RENEWABLES ON THE RISE, COAL CONTINUOUSLY FALLING - EUROPEAN COMMISSION
Although oil (34.5%) and natural gas (23.7%) were still the most important fuel sources in the EU energy mix in 2020, renewable energy’s shar ...
Thursday, 03 February 22
COAL SHORTAGE NOW AT ALARMING LEVELS, SAY ALUMINIUM PRODUCERS - IANS
With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Alumi ...
Wednesday, 02 February 22
HIGH COKING COAL PRICES PROVIDE GLIMPSE INTO STEELMAKING'S FUTURE - MCKINSEY
Last year was a volatile one in global commodity markets. Demand for coking coal, an essential raw material in the production of steel, was extreme ...
Wednesday, 02 February 22
INDONESIA'S RESTRICTIONS ON COMMODITIES RATTLE MARKETS, MORE MOVES LIKELY - REUTERS
In just the first month of this year, Indonesian policymakers have rattled global markets with restrictions on some of its biggest commodities expo ...
Wednesday, 02 February 22
CHINA'S TOP COAL PRODUCER FORECASTS 28 PCT PROFIT GROWTH IN 2021 - XINHUA
China Shenhua Energy Company Limited, one of the country’s biggest coal producers, said its net profits are expected to jump by 28 percent in ...
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- Petron Corporation, Philippines
- White Energy Company Limited
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
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