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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, 11 October 21
COAL ABANDONMENT IN POWER GENERATION PROMOTED GAS DEMAND GROWTH IN EUROPE - TOP MANAGER: TASS
Accelerated abandonment of coal in power generation and the overall recovery of economic activity facilitated gas demand growth in Europe and led t ...
Saturday, 09 October 21
CHINA POWER CUTS: COAL MINERS ORDERED TO BOOST OUTPUT, SAY REPORTS - BBC
Beijing has reportedly ordered China’s coal mines to boost output as an energy shortage across the country has seen millions of homes and bus ...
Friday, 08 October 21
SEPTEMBER CRUDE OIL TANKER DEMOLISHING HITS 39-MONTHS HIGH AT 1.9M DWT - PETER SAND
Has the lid finally come off for crude oil tanker demolition in 2021? If judged by the 1.9m DWT of capacity that was removed in September, the answ ...
Friday, 08 October 21
COAL SHORTAGE MAY LEAD TO RISE IN STEEL PRICES IN COMING MONTHS: JSPL MD - PTI
Steel prices are expected to increase in the coming months as companies are buying coal at three times the rates a month ago, said a top industry e ...
Wednesday, 06 October 21
INDONESIA COAL PRICE REFERENCE: ANOTHER MONTH, ANOTHER RALLY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second and third quarters of 2021 as it reached a pinnacle of $161.63 Oc ...
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- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- PTC India Limited - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- The University of Queensland
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
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