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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, 28 July 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during this first half of the year, we continue to come across surprises and new restrictions which are trembling ...
Saturday, 24 July 21
UNDERSTANDING INDIA'S LATEST PEAK POWER DEMAND RECORD - IEEFA
Ramping up solar will be crucial as peak power demand hits during the day
At around noon on 7 July 2021, India’s instantaneous ...
Wednesday, 21 July 21
MARKET INSIGHT - INTERMODAL
Dry Buk Sales and Purchase activity has heated up during 2021, reaching record high levels during the first half of the year. The increased interes ...
Monday, 19 July 21
CHINA'S COAL OUTPUT UP 6.4 PCT IN H1 - XINHUA
China’s raw coal output climbed 6.4 percent year on year to 1.95 billion tonnes in the first six months of the year, official data showed.
...
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 ...
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- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- The University of Queensland
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
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