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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, 25 May 21
KOREA SOUTHERN POWER INVITED BIDS FOR 870,000 MT OF MIN 5300 NCV COAL FOR 2021 TO 2023.
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 870,000 MT of Min 5,300 kcal/kg NCV coal for Augu ...
Tuesday, 25 May 21
CHINA’S COAL OUTPUT RISES IN FIRST FOUR MONTHS - XINHUA
China’s raw coal output rose 11.1 percent year on year to 1.29 billion tonnes in the first four months of 2021, official data showed.
&nb ...
Tuesday, 25 May 21
MARINE SHIPPERS BULK UP: ANOTHER GAME OF CHICKEN IN THE WORKS? - THE KOREA TIMES
Global shipping companies have been placing orders for large ships, with many anticipating further increased competition within the next three year ...
Friday, 21 May 21
MARKET INSIGHT - INTERMODAL
The dry bulk market’s counter seasonal surge so far into the first half of the year -in a sort of 2010 manner - and Capesize’s recent r ...
Wednesday, 12 May 21
U.S. COAL PRODUCTION TO INCREASE BY 43 MMST IN 2021 TOTAL 582 MILLION SHORT TONS - EIA
U.S. energy Information Administration expects U.S. coal production to total 582 million short tons (MMst) in 2021, 43 MMst (8%) more than in 2020. ...
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- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
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