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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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Wednesday, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand f ...
Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
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- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Planning Commission, India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
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