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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, 01 July 21
END TO COAL POWER BROUGHT FORWARD TO OCTOBER 2024
Press Release: The deadline to phase out coal from Great Britain's energy system has been brought forward by a whole year, highlighting the UK& ...
Thursday, 01 July 21
WHY BUILD 600 NEW UNPROFITABLE COAL PLANTS? - DEUTSCHE WELLE
Governments in Asia are planning 600 new coal plants that could lose investors $150 billion and derail efforts to limit temperature rise in line wi ...
Thursday, 01 July 21
FIVE ASIAN COUNTRIES ACCOUNT FOR 80% OF NEW COAL POWER INVESTMENT - THE GUARDIAN
Five Asian countries are jeopardising global climate ambitions by investing in 80% of the world’s planned new coal plants, according to a rep ...
Wednesday, 30 June 21
DELTA DUNIA MAKMUR RECORDED AN IMPROVED REVENUE IN Q1 2021; REVENUE INCREASED BY 49% QOQ TO US$160 MILLION ON THE BACK OF COAL PRICE RECOVERY
PT Delta Dunia Makmur Tbk. (“DOID”) released its consolidated financial and operating results that include its primary and wholly-owned ...
Wednesday, 30 June 21
BUMA SIGNED MINING AGREEMENT WITH ADARO
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into an agreement for the p ...
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- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
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