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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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Wednesday, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand f ...
Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
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- ASAPP Information Group - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
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