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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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Saturday, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
Wednesday, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
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- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- PTC India Limited - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- The University of Queensland
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
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