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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, 21 February 21
ANZ DIVESTING FROM THE WORLD’S LARGEST COAL EXPORT PORT IS 'PRAGMATISM' - IEEFA
The biggest buyers of Australian thermal coal have committed to net-zero emissions
ANZ, Australia’s third largest bank, has decided to s ...
Sunday, 21 February 21
EDITORIAL: TIME FOR BANGLADESH TO FOCUS ON RENEWABLE ENERGY, NOT COAL - DHAKA TRIBUNE
Shifting away from coal is not only desirable, but absolutely necessary in these times.
In spite of being detrimental to environment ...
Wednesday, 17 February 21
STRANDED ASSETS A LONG-TERM RISK FOR MAJOR FOSSIL FUEL EXPORTERS - FITCH RATINGS
Fossil exporters face a loss of GDP, government revenue and export receipts from the transition to a lower-carbon economy over the coming decades. ...
Friday, 12 February 21
U.S: WIND SURPASSED COAL AS NO. 1 FUEL SOURCE IN 2020 FOR SOUTHWEST POWER POOL - IEEFA
Wind energy growth due to geography, design factors, and new installations
Wind surpassed coal as the primary power generation sourc ...
Wednesday, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
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- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
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