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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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Sunday, 18 April 21
WORLDSTEEL RAISES 2021 STEEL DEMAND GROWTH FORECAST TO 5.8% - WORLDSTEEL
The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that steel demand wil ...
Sunday, 18 April 21
CHINA'S Q1 COAL OUTPUT RISES 16% ON STRONG DEMAND FOR WINTER HEATING - REUTERS
China’s coal output rose 16% in the first quarter from the same period last year, bolstered by strong demand for winter heating and robust in ...
Wednesday, 14 April 21
INDIA HAS A RECORD LEVEL OF STOCKPILED COAL DAMPENING NEED FOR NEW DOMESTIC MINES - IEEFA
Proposed coal mining expansions at odds with excess supply
India has stockpiled a record 132 million tonnes of coal – enough t ...
Wednesday, 14 April 21
BANGLADESH NEEDS A RENEWABLES FOCUS, NOT A SWITCH FROM 'COAL TO GAS' - IEEFA
Renewables are cheaper and more sustainable than gas imports, and can provide better energy security in developing nations
The emerg ...
Wednesday, 14 April 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 1.10 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.05 points Monday, down 1.10 percent week on week.
The index, released by Chi ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
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