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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, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Saturday, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
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- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Australian Coal Association
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
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