We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 08 September 22
MARKET INSIGHT - INTERMODAL
 While the energy markets are historically stretched, Russian flows of crude oil are closely monitored as the oil trade is ultimately realigned. More specifically, Russian oil exports fell by 115k bpd in July to 7.4m bpd, from about 8m bpd at the start of the year, according to IEA’s August report. However, for the period Jan-Jul22 oil exports averaged 7.75m bpd, edging upwards compared to 7.5m bpd achieved in 2021 as a whole.
Crude and product flows to the US, UK, EU, Japan and Korea have slumped by 2.2 m bpd since Russia’s invasion of Ukraine. However, two-thirds of them have been redirected mainly to China and India at discounted rates. Export revenues fell to $19 bn in July, -9.5% m-o-m, mainly on the back of reduced volumes and lower oil prices. Total flows of Russia’s crude to Asia fell by 500,000 bpd during the past three months, with flows slumping at the lowest since March. During the last week of August, according to Bloomberg, total flows slumped at 3.04m bpd, -16% w-o-w. Crude shipments to China are now about 50% of the total flows, -10% since April. Key driving factor is mainly China’s constrained oil demand due to consecutive lockdowns which prompted refineries to minimize their crude input, as well as simultaneous maintenance of multiple refineries. Another factor could be the narrowing of the price differential between Urals crude and Brent crude, which from about $30/bbl in April-May narrowed to approx. $19/bbl in July-August, according to Russia’s Ministry of Finance.
European imports of Russian crude surged during August’s last week to the highest level since April, mainly driven by the upcoming full effect of sanctions in December. According to Bloomberg, total flows of Urals crude rose to 3.41m bpd from a previous 3.24m bpd, mainly on the back of EU imports (Mediterranean, Northern Europe, and Black Sea region). Imports of Mediterranean countries soared to the highest level to reach 140k bpd, imports of Northern countries accounted for 398k bpd, while import volumes from the Black Sea region (Romania and Bulgaria) marked a 7-week high.
ESPO, on the other hand, has marked a 4-month high during August. ESPO shipments from the country’s Pacific Coast terminals rose to the highest level since April. More specifically, according to Bloomberg, 37 tankers departed from Kozmino in August carrying 875k bpd of ESPO. Meanwhile, combined exports from Kozmino, De Kastri, and Prigorodnoye surged to 942k bpd, +6.5% m-o-m. India edged as a key ESPO importer, displacing barrels from Saudi Arabia and Abu Dhabi and thus, realigning global crude flows. During August standalone, 6 vessels carrying ESPO headed to the country’s refineries, carrying a total volume of 142k bpd, +20.3% m-o-m.
With shifting trading patterns in the crude oil market, Russia must primarily rely on China and India to source its crude. China’s demand for Russian barrels, albeit lower in July according to GAC data, could recover as we head towards the winter season which will increase demand for oil amid elevated gas prices. Oil demand could be supported in September ahead of the peak of fishing and harvest activities, as well as the Autumn festival, all of which combined add tailwinds to gasoil consumption. In addition, some demand growth is expected during October, ahead of the 20th National Congress of the Chinese Communist party which will be held in Beijing. The recent outbreak of Covid cases in many provinces, though, has forced cities to adopt virus containment measures and added headwinds to the winter demand growth forecast. Nevertheless, market sentiment remains bullish, overall, regarding the 2H2022 Chinese oil demand.
Conclusively, some smaller players have emerged which could potentially absorb more Russian crude in the mid-term, such as Sri Lanka and Egypt which snapped some Russian barrels during July and August, according to Bloomberg. Given that the trade between Russia and alternative importing countries is further developed after the sanctions’ full effect, it could add some support to the tonne miles.
By Chara Georgousi
Research Analyst
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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 12 September 22
COAL PRICE HIKE REMAINS DIFFICULT FOR CIL: CHAIRMAN TELLS ANALYSTS - PTI
Coal India on Thursday informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with h ...
Friday, 09 September 22
GREECE WILL KEEP COAL-FIRED PLANTS RUNNING FOR LONGER AMID GAS CRISIS - REUTERS
Greece will keep seven coal-fired plants running for longer than previously planned as European countries adjust to a cut in gas flows coming from ...
Friday, 09 September 22
CHINA'S DROUGHT INTENSIFIES GLOBAL COAL SHORTAGE - REUTERS
China’s drought has sent coal prices surging as traders anticipate the lack of hydroelectric generation will force it to burn more coal to me ...
Thursday, 08 September 22
MOODY.S AFFIRMS ABM INVESTAMA'S B1 RATINGS FOLLOWING PLANNED MINORITY INVESTMENT IN COAL MINER; OUTLOOK STABLE
Moody's Investors Service has affirmed ABM Investama Tbk (P.T.)'s B1 corporate family rating (CFR), along with the B1 rating on its senior ...
Friday, 02 September 22
INDONESIA COAL PRICE REFERENCE SLIPS SLIGHTLY IN SEPTEMBER 2022
COALspot.com: Indonesian Coal Price Reference for September delivery drops 0.74 per cent month on month.
The Indonesian Coal Price R ...
|
|
|
Showing 241 to 245 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- PTC India Limited - India
- Ministry of Mines - Canada
|
| |
| |
|
