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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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Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
Thursday, 28 October 21
CANADA BAN ON SHIPPING COAL WOULD EQUAL SCRAPPING AS MANY AS 3 MILLION CARS - IEEFA
Canada ban on shipping coal would equal scrapping as many as 3 million cars
Change in Canadian policy could have major implications ...
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- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
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