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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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Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
Wednesday, 24 February 21
MARKET INSIGHT - INTERMODAL
With yields of up to 563%, the shares of Greek shipping companies listed on Wall Street are recorded. The Coronavirus pandemic has not significantl ...
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- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Australian Coal Association
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
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