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Thursday, 29 September 22
MARKET INSIGHT - INTERMODAL
 This week, focus turns to the 38th APPEC Conference, where leading professionals from the global oil industry will discuss the future key drivers of the oil market. Crude and product flows remain in the spotlight, with Vitol's global head of research highlighting in his speech that ahead of the sanctions' full effect, 2m b/d of crude oil and 1m b/d of oil products will have to be rerouted. Below are listed the key market indicators of crude and product flows during September so far.
In the crude sector, flows from the US to Europe are set to hit a near 3-year high in September, while crude inventories in ARA region are now surpassing 95% of the region's storage. A total of 48 tankers are expected to deliver at least 42.4m barrels in September, with tally likely to be revised at the end of the month. China's crude imports rebound in August to reach 8.34m tons from 7.15m tons in July, facing tailwinds from refiners restocking activities ahead of the peak autumn season. Russia's crude flows during the 1H of September have fallen sharply due to a drop in ESPO shipments following Hinnamnor typhoon, paired with a drop in shipments from Baltic. Europe's current imports of Russian oil currently stand below 300,000 b/d, 75% lower than pre-invasion levels. In the meantime, flows to three major importers, China, India, and Turkey have stalled since mid-August, standing at 460,000 b/d. Overall, Russian oil shipments are almost 50% lower since March and are estimated to come under more pressure following the sanctions' full effect.
In the product sector, European imports from the Middle East are set to hit a 3-year high in September, amid the bloc's effort to restock ahead of the winter season. European countries are diversifying their energy suppliers and turn to rival suppliers from the Middle East to substitute their seaborne Russian fuel imports. A total of 2.99m tons of middle distillates are set to arrive in Europe from MEG during September. Middle Eastern diesel/gasoil imports will soar to 31% of the bloc's total imports, during the month of September, versus avg.19% during the previous 12 months. Meanwhile, diesel/gasoil inventories in ARA region have plunged to a 14-year low. European oil products exports to the US are set to fall in September, on the back of lower gasoline exports. A total of 1.77m tons are estimated to reach US East Coast versus 2.59m tons in August. China is set to allow its oil refiners to export more fuel, in an effort to boost the country's economy. The increase in export quota refers to an extra 15m tons of refined products, including gasoline and diesel, which will increase this year's total exports to 39m tons, compared to 38.6m tons a year ago.
While tanker rates have been soaring during the past months, generating high profits for the owners, sentiment in the tanker market remains extremely bullish. China will need to source extra crude in the coming months and the US could be a perfect supplier under a widening WTI-Dubai spread. VLCC tonne-miles are expected to increase, while product tankers' earnings will be supported by increased Chinese product exports under the quota. Meanwhile, a peak of weather disruptions amid the ongoing US hurricane season could lead to vessel delays in the Atlantic basket and refinery outages on the US East Coast, providing further support to the product tanker market.
By Chara Georgousi
Research Analyst
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.
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Tuesday, 04 October 22
INDONESIAN COAL PRICE REFERENCE SURGE AGAIN TO RECORD HIGH
COALspot.com: Indonesian Coal Price Reference reached another record high in October as Russia's war in Ukraine continues to spark a surge in c ...
Sunday, 02 October 22
MISC STRENGTHENS ITS PARTNERSHIP WITH SEARIVER MARITIME
MISC Berhad (MISC) today announced that its subsidiaries Polaris LNG Three Pte. Ltd. and Polaris LNG Four Pte. Ltd. have secured long-term time cha ...
Thursday, 29 September 22
HIGH COAL PRICES REMAIN A CONCERN FOR DOMESTIC NON-FERROUS METAL COMPANIES - ICRA
According to ICRA on Monday, the high price of coal will have a negative effect on the profitability of domestic non-ferrous metal companies that m ...
Tuesday, 27 September 22
14% INCREASE IN EUROPEAN COAL DEMAND TO BE SHORT-TERM TREND - WOOD MACKENZIE
European seaborne thermal coal demand is projected to increase 14% or 12 million metric tonnes (Mt) this year to 98 Mt as it grapples with the curr ...
Friday, 23 September 22
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH - REUTERS
China’s coal production has surged this year as the government seeks to improve energy security by reducing dependence on imports and amassin ...
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- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Australian Coal Association
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- The University of Queensland
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
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