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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, 04 November 21
FASTER DECARBONISATION: BACK TO BASICS FOR THE MINING INDUSTRY? - WOOD MACKENZIE
To the uninitiated, rugby is a technical and complicated game. As young schoolboys it was all a wee bit confusing and we invariably ended up on the ...
Wednesday, 03 November 21
CHINA TO LAUNCH NEW DATA MONITORING SYSTEM, TARGETING COAL MARKET SPECULATION, HOARDING - GLOBAL TIMES
China’s top economic planner announced on Sunday a new data system for supervising the implementation of medium- and long-term contracts of c ...
Wednesday, 03 November 21
CHINA’S STATE PLANNER SAYS COAL SUPPLY IMPROVING, PRICES STABILISING - REUTERS
China’s coal supply situation has seen significant improvement with joint efforts from coal producers, logistics and downstream users, while ...
Wednesday, 03 November 21
HIGHER COKING COAL PRICES TO PARE PROFITABILITY OF STEELMAKERS IN SECOND HALF OF FY22 - CRISIL RATINGS
The operating margin of primary steelmakers will reduce by a third to 24-26% in the second half of this fiscal versus the first half as input cost ...
Wednesday, 03 November 21
MARKET INSIGHT - INTERMODAL
November is here and soon the all time seasonal favorite “all I want or Christmas is you” by Mariah Carey will be played in radio stati ...
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- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- The University of Queensland
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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