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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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Thursday, 27 January 22
2022 - A YEAR OF REBALANCING FOR METALS AND MINING - WOOD MACKENZIE
If 2021 was the year of rebound for metals and mining (M&M) commodities, then 2022 is shaping as the year of rebalance, says Wood Mackenzie, a ...
Wednesday, 26 January 22
MARKET INSIGHT - INTERMODAL
While it is logical that most of the S&P reports of the first weeks of the year are linked to very limited activity as reflected in the weekly ...
Wednesday, 26 January 22
INDONESIA: DME PROJECT IS ECONOMICALLY VIABLE AS STUDY DEMONSTRATES
The government is encouraging downstream coal processing or increase in coal added value, for example by turning coal into Dimethyl Ether (DME) to ...
Wednesday, 26 January 22
COMMODITY PRICES COULD SOAR IF THE RUSSIA-UKRAINE CRISIS ESCALATES - ING
It appears that a number of commodity markets are starting to at least price in some geopolitical risk around the growing tension between Russia an ...
Wednesday, 26 January 22
INDONESIA'S COAL BAN SENDS PRICES SOARING, OTHER EXPORTERS FAIL TO STEP UP - REUTERS
Indonesia’s short-lived ban on exporting coal has sent ructions through the seaborne market for the fuel in Asia, with the fallout likely to ...
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- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
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