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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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Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
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- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- The University of Queensland
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
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