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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, 08 July 21
STRONGEST HALF YEAR FOR SHIPPING MARKETS SINCE 2008 - CLARKSONS
A year on from peak trade disruption, we update our half year report for the shipping industry profiling a strong recovery and some exceptional ind ...
Tuesday, 06 July 21
INDONESIA COAL PRICE REFERENCE RISES TO 112 MONTHS HIGH IN JULY 2021; 121.15% HIGHER COMPARED TO THAT IN JULY 2020 PRICE
COALspot.com: The Indonesia coal price reference for July 2021 fixed at US$ 115.35 per ton FOB vessel.
The Indonesia coal price referenc ...
Tuesday, 06 July 21
INDONESIAN COAL EXPORTS FELL BY 37% YOY IN 1Q21 DUE TO ADVERSE WEATHER CONDITIONS - FITCH RATINGS
Chinese coal imports declined by 25% yoy in 5M21as a result of both restrictions on Australian coal and the high base in 2020. Import volume in Jan ...
Tuesday, 06 July 21
INDONESIAN 4,200 INDEX HAS ALSO INCREASED TO OVER USD50 PER TONNE SINCE MAY THIS YEAR REFLECTING STRONG CHINESE IMPORT DEMAND - FITCH RATINGS
Price Surge Since March
APAC thermal coal has resumed its price surge since March this year. The benchmark Newcastle 6,000kcal/kg grade c ...
Thursday, 01 July 21
WHY INDIA’S SOLAR POWER TARIFFS ARE CLIMBING AFTER HITTING RECORD LOWS LAST YEAR - IEEFA
What’s behind the recent increase?
Solar tariffs are deflationary. Prices have fallen by 75% in seven years in India, and in 2 ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Planning Commission, India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Parliament of New Zealand
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
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