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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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Friday, 15 October 21
GLOBAL STEEL DEMAND GROWTH DOWNGRADED FOR 2021 DUE TO CHINA - WORLD STEEL ASSOCIATION
The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that ste ...
Thursday, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten ...
Thursday, 14 October 21
EIA FORECASTS U.S. COAL PRODUCTION TOTALS 588 MMST IN 2021, UP 53 MMST YOY
U.S. coal production in EIA's forecasts totals 588 million short tons (MMst) in 2021, 53 MMst more than in 2020.
According ...
Wednesday, 13 October 21
COAL PRICES ARE ROARING BACK AMID A GLOBAL ENERGY CRUNCH - SYDNEY MORNING HERALD
Soaring coal prices have placed Australia’s mining and energy exports on track to reach a record $349 billion this year evenas the value of t ...
Wednesday, 13 October 21
CHINA ISN'T THE ONLY HUGE ASIAN ECONOMY WITH A COAL SHORTAGE NOW - CNBC
China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis.
Mos ...
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- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- MS Steel International - UAE
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Planning Commission, India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
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