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Wednesday, 16 June 21
MARKET INSIGHT - INTERMODAL
 “While approaching the second half of the year and summer season is just around the corner, COVID vaccination programs are steadily moving forward with N. America and Europe leading the race. In this context, demand for oil products is expected to recover during the next quarters. While more people get vaccinated and travel restrictions are eased by governments, global oil products inventories are estimated to have dropped close to the 5 year average range for this time of year, with the Atlantic driving most of the destocking, thus refineries production will have to gradually increase looking forward.
As per the latest IEA report, in 2020 we saw a record decline in oil demand by 8.5 MB/D, which is now expected to rebound by + 5.4 MB/D in 2021 and to fully recover to pre-pandemic levels by end of 2022 with an additional +3.1 MB/D. Global gasoline demand is most likely to lag other oil products in returning to pre-covid numbers, as the combination of teleworking and the increase of electric cars will play a major role in the next two years. However, last to see a full demand recovery will be jet fuel, as international aviation has a long way to go until most of the population is vaccinated and consumers’ preferences normalize to pre-COVID levels, likely to take place after 2022.
For the time being, with bunker prices hovering at low to mid USD 500 PMT for VLSFO and close to USD 600 PMT for MGO, TCEs for tankers have been suppressed further on top of weak fundamentals. Nevertheless, tanker Owners are hopeful that the market will start recovering, as the market trough we are experiencing will soon be exhausted.
Charterers now working most of the cargoes privately to prevent owners from being bullish and from time to time we are seeing long tonnage lists that further weaken the market.
VLCC rates are still moving close to zero tce’s or even at some cases “moving” at negative numbers, there was some additional movement on the WAF/EAST route but was not enough to push rates, same story with Aframaxes and Suezmaxes east of Suez, rates remained flat with Aframaxes around ws90 @ 80kmt (usd 1,750 p/d) and Suezmaxes at ws54-55 @ 130kmt. In the Mediterranean, Aframaxes tried to work their way and push rates slightly higher but was quite unfortunate, owners still working cross-med cargoes at low ws90 levels @ 80kmt (usd 2,665 p/d), Suezmaxes are being left spot as the scarce availability of cargoes limits the option of picking a cargo without a negative return.
CPP MR east of Suez they are pretty much bottomed out with a lot of Singapore ballasters joining the Fujairah list as they have aggressively been capped by LR1’s that had long tonnage lists trying to kill some time with short voyages, cross AG still stands at below USD 200k levels, (usd170k-180k) and AG/EAFR standing at WS154 @ 35KMT, (tce circa usd 6,500 pdpr) LR’1 & LR2’S freight market continues to soften this week, with TC1(AG/JAPAN) at WS75 and LR1’S dropping below WS90 to Japan. In Med, not much happening on the MRs as mentioned earlier many of the ships are being swept from the market on a private basis without showing the cargoes to the market, cross med cargoes are being fixed at sub ws125 levels and BSEA/MED at WS134-135. Continent still drives the market as the most active in West of Suez, TC stands 37@WS110 (abt 2300 usd/day) with the ARA/WAF at some cases loosing full of its premium points, despite owner’s preference to pick voyages with WAF options as the demurrage improves their returns.”
By Dimitris Kourtesis,
Tanker Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
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, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...
Thursday, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
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- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
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