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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, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
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