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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
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