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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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Friday, 29 January 21
OPEC+, COVID-19 AND ENERGY TRANSITION - 3 THEMES IMPACTING OIL MARKETS AND REFINING IN 2021 - WOOD MACKENZIE
Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key them ...
Thursday, 28 January 21
STRONG CHINESE THERMAL COAL IMPORTS TO BENEFIT INDONESIAN MINERS IN THE NEAR TERM - FITCH RATINGS
China's thermal coal imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, high utilisation at do ...
Thursday, 28 January 21
WIND PROPULSION FOR DRY BULK CARRIERS - OLDENDORFF
Oldendorff Carriers (OC) has signed a Joint Development Project (JDP) with Anemoi Marine Technologies (Anemoi), Lloyd’s Register (LR) and Sha ...
Thursday, 28 January 21
BUMA PRICED A USD400 MILLION 7.75% 5-YEAR SENIOR NOTES
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama priced a USD400 million 5-year (non-callable 2-year)& ...
Wednesday, 27 January 21
MARKET INSIGHT - INTERMODAL
As we have entered the era off renewable energies, all industries globally give max effort to minimize their carbon footprint and consequently thei ...
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- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- ASAPP Information Group - India
- GMR Energy Limited - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
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