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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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Thursday, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
The LNG market started 2021 on a high note with Asian spot prices crossing $30 per MMBtu while LNG shipping rates recorded a high $350k per day due ...
Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
Despite the moderate rebound in temperatures across most regions of China after late December’s deep-freeze, thermal coal prices in the count ...
Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
...
Wednesday, 20 January 21
MARKET INSIGHT - INTERMODAL
While 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even s ...
Saturday, 16 January 21
SEABORNE TRADE IN STEAM COAL DECREASED BY 11.6% FROM 937 MILLION TONNES IN 2019 TO 828 MILLION TONNES IN 2020 - COAL IMPORTERS ASSOCIATION, GERMANY
According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), global hard coal production dec ...
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- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
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