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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, 27 May 21
CHINA POWER DEMAND EXCEEDS PRE-COVID-19 LEVELS; THERMAL OUTPUT STRONG - FITCH RATINGS
Rising Consumption: Total power consumption rose by 21.2% yoy to 1,921.9GWh in 1Q21 due to the fast recovery of China’s economy, after a drop ...
Thursday, 27 May 21
CHINA'S POWER DEMAND EXCEEDS PRE-PANDEMIC LEVELS; RENEWABLES TO DRIVE DEVELOPMENT - FITCH RATINGS
China's power consumption exceeded the pre-Covid-19 levels in 1Q21 due to the country's fast economic recovery, with strong output from the ...
Wednesday, 26 May 21
THE INDONESIA COAL PRICE REFERENCE FOR MAY 2021 SETTLES AT US$ 89.74 PER TON
COALspot.com: The Indonesia coal price reference for May 2021 settles at US$ 89.74 per ton FOB vessel.
The Indonesia coal pric ...
Wednesday, 26 May 21
MARKET INSIGHT - INTERMODAL
Last year crude tankers’ newbuilding contracting activity was devastated by the economic effects of the Covid-19 pandemic and the cloud of un ...
Wednesday, 26 May 21
NEW POWER AND ENERGY MASTER PLAN MUST BE DESIGNED IN BANGLADESH'S BEST INTERESTS, NOT JAPAN'S - IEEFA
JICA must deliver a low or zero emissions plan as promised, not fund Matarbari 2 coal plant
Clear understandings from the Bangladesh ...
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- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- The University of Queensland
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
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