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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, 04 November 21
FASTER DECARBONISATION: BACK TO BASICS FOR THE MINING INDUSTRY? - WOOD MACKENZIE
To the uninitiated, rugby is a technical and complicated game. As young schoolboys it was all a wee bit confusing and we invariably ended up on the ...
Wednesday, 03 November 21
CHINA TO LAUNCH NEW DATA MONITORING SYSTEM, TARGETING COAL MARKET SPECULATION, HOARDING - GLOBAL TIMES
China’s top economic planner announced on Sunday a new data system for supervising the implementation of medium- and long-term contracts of c ...
Wednesday, 03 November 21
CHINA’S STATE PLANNER SAYS COAL SUPPLY IMPROVING, PRICES STABILISING - REUTERS
China’s coal supply situation has seen significant improvement with joint efforts from coal producers, logistics and downstream users, while ...
Wednesday, 03 November 21
HIGHER COKING COAL PRICES TO PARE PROFITABILITY OF STEELMAKERS IN SECOND HALF OF FY22 - CRISIL RATINGS
The operating margin of primary steelmakers will reduce by a third to 24-26% in the second half of this fiscal versus the first half as input cost ...
Wednesday, 03 November 21
MARKET INSIGHT - INTERMODAL
November is here and soon the all time seasonal favorite “all I want or Christmas is you” by Mariah Carey will be played in radio stati ...
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- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
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