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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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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 ...
Sunday, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
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- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- The University of Queensland
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
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