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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, 30 June 21
MARKET INSIGHT - INTERMODAL
The strong freight performance since the beginning of year has continued for the dry bulk market with earnings being at the highest level in over a ...
Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
Indonesia on the right emissions reduction pathway but same old coal stories persist
Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
Saturday, 26 June 21
KOSPO INVITED BIDS FOR 480,000 MT OF COAL PER ANNUM
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 480,000 MT of NCV 1 Min. 5,600 (Spec 1) /Min. 5,0 ...
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- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
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