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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, 15 January 21
OVER US$50 BILLION IN GAS POWER PROJECTS AND LNG IMPORT FACILITIES AT RISK OF CANCELLATION IN BANGLADESH, PAKISTAN AND VIETNAM - IEEFA
Pakistan and Bangladesh have already cancelled tenders for LNG imports
Emerging markets such as Vietnam, Pakistan and Bangladesh tha ...
Friday, 15 January 21
VIETNAM'S EXTRAORDINARY ROOFTOP SOLAR SUCCESS DEALS ANOTHER BLOW TO THE REMAINING COAL PIPELINE - IEEFA
9.3 gigawatts peak of solar capacity, equal to 6 coal power plants, installed in less than a year
Vietnam’s solar power indust ...
Friday, 15 January 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 14 January 21
KOREA MIDLAND POWER INVITED BIDS FOR AUSTRALIAN COAL FOR THREE YEARS SUPPLY
COALspot.com: Korea Midland Power Co. Ltd, issued an International tender for total 1,560,000 MT of Min.5,700 kcal/kg NCV coal of Australian Origin ...
Wednesday, 13 January 21
CHINA THERMAL GENCO PROFITS FACE PRESSURE AMID POWER SHORTAGES - FITHCH WIRE
High coal and gas prices will put near-term pressure on margins for thermal power generators in China, says Fitch Ratings. However, the power short ...
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- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- The University of Queensland
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
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