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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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Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owne ...
Sunday, 30 May 21
PAKISTAN IS PLANNING TO END COAL IMPORTS, WORSENING OUTLOOK FOR SOUTH AFRICAN COAL - IEEFA
The growing and irreversible risks being faced by South African coal exporters
As Thungela Resources’ CEO attempts to talk up ...
Sunday, 30 May 21
G7 COAL FINANCE EXIT AND WHY IT MATTERS FOR INDIA - IEEFA
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group o ...
Saturday, 29 May 21
SKULD’S IMO 2020 SULPHUR CAP EXPERIENCE
More than a year has passed since the International Maritime Organization (IMO) mandate for the 0.50% sulphur cap for marine fuel (MARPOL Annex VI) ...
Thursday, 27 May 21
KOMIPO INVITED BIDS FOR 1.56 MILLION TONS OF BITUMINOUS COAL
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 ...
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- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
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