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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, 11 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
Tuesday, 09 November 21
ASIA-PACIFIC IS HOME TO SOME OF THE WORLD'S LARGEST CARBON-EMITTERS - 2 CHARTS SHOW ITS RELIANCE ON COAL - CNBC
Asia-Pacific is home to some of the world’s largest carbon emitters — and experts say much of global efforts to fight climate change de ...
Tuesday, 09 November 21
CHINA DAILY COAL OUTPUT HITS MULTI-YEAR PEAK, PRICES EXPECTED TO FALL - REUTERS
China’s daily coal output hit 11.93 million tonnes last week, a multi-year high as more capacity returned to operation, the state planner sai ...
Thursday, 04 November 21
CHINA'S COAL MARKET SEES SIGNIFICANT IMPROVEMENTS: NDRC - GLOBAL TIMES
China’s top economic planner has declared initial success in its efforts to ensure coal supply and stabilize prices, saying that daily coal o ...
Thursday, 04 November 21
CHINA THERMAL COAL PRICES RISE AFTER FALLING FOR 10 DAYS - REUTERS
China thermal coal futures rebounded on Wednesday after falling for 10 days on an expected jump in fuel demand to meet heating needs amid forecasts ...
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- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
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