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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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Friday, 15 October 21
GLOBAL STEEL DEMAND GROWTH DOWNGRADED FOR 2021 DUE TO CHINA - WORLD STEEL ASSOCIATION
The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that ste ...
Thursday, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten ...
Thursday, 14 October 21
EIA FORECASTS U.S. COAL PRODUCTION TOTALS 588 MMST IN 2021, UP 53 MMST YOY
U.S. coal production in EIA's forecasts totals 588 million short tons (MMst) in 2021, 53 MMst more than in 2020.
According ...
Wednesday, 13 October 21
COAL PRICES ARE ROARING BACK AMID A GLOBAL ENERGY CRUNCH - SYDNEY MORNING HERALD
Soaring coal prices have placed Australia’s mining and energy exports on track to reach a record $349 billion this year evenas the value of t ...
Wednesday, 13 October 21
CHINA ISN'T THE ONLY HUGE ASIAN ECONOMY WITH A COAL SHORTAGE NOW - CNBC
China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis.
Mos ...
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- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Australian Coal Association
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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