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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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Saturday, 16 October 21
DESPITE HIGHER COAL PRICES, U.S. COAL RECOVERY LOOKS WEAK BY MOST MEASURES - IEEFA
U.S. coal sector is locked into a long-term sectoral decline
Coal prices have surged to the highest level in years in the U.S., and have soare ...
Saturday, 16 October 21
COAL IS 'KING' AS GAS PRICES SOAR, TOTAL CEO SAYS - AND IT’S BACKFIRING ON CLEANER ENERGY GOALS - CNBC
Surging natural gas prices have led to a jump in coal use, with plants in Europe and Asia firing back up as temperatures decline and the world grap ...
Saturday, 16 October 21
VIETNAM'S COAL-FIRED POWER MAY DOUBLE BY 2030 UNDER DRAFT ENERGY PLAN - REUTERS
Vietnam may double the amount of coal-fired electric generation it installs by 2030 under a draft power development plan submitted to the prime min ...
Friday, 15 October 21
AUSTRALIA'S WHITEHAVEN EXPECTS TO BE DEBT-FREE NEXT YEAR AS COAL PRICES SOAR - REUTERS
Australia’s Whitehaven Coal WHC.AX said on Thursday it expects to be debt-free by early 2022, as thermal coal prices surge to record highs on ...
Friday, 15 October 21
WINTER CHILL KEEPS CHINA'S COAL PRICES HIGH, POWER CRUNCH STOKES INFLATION - REUTERS
China coal prices held near record highs on Thursday as cold weather swept into the country’s north and power plants stocked up on the fuel t ...
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- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- The University of Queensland
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
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