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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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Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
Thursday, 28 October 21
CANADA BAN ON SHIPPING COAL WOULD EQUAL SCRAPPING AS MANY AS 3 MILLION CARS - IEEFA
Canada ban on shipping coal would equal scrapping as many as 3 million cars
Change in Canadian policy could have major implications ...
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- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Planning Commission, India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
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