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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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Wednesday, 14 April 21
MARKET INSIGHT - INTERMODAL
After a series of months where the dry bulk sector was attracting most of the buying interest, tankers SnP activity spiked in the previous weeks. O ...
Tuesday, 13 April 21
INDONESIAN COAL PRICE REFERENCE IN APRIL UP AGAIN ON FIRM DEMAND
COALspot.com: The Indonesia coal price reference for April 2021 settles at US$ 86.68 per ton FOB vessel.
The Indonesia coal pr ...
Monday, 12 April 21
CHINA'S ECONOMIC RECOVERY PUSHES COAL MINES TO INCREASE YIELD - GLOBAL TIMES
China’s fast economic rebound from coronavirus has driven up electricity demand, leading to higher consumption of coal which is seeing rising ...
Monday, 12 April 21
GLOBAL COAL PRODUCTION EXPECTED TO RISE BY 3.5% IN 2021, SAYS GLOBALDATA
Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions obse ...
Wednesday, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
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- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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