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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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Monday, 04 January 21
BLISS FOR SHIPOWNERS! DAMAGES MAY BE CLAIMED IN ADDITION TO DEMURRAGE FOR VOYAGE CHARTERPARTY DELAY - WFW
KNOWLEDGE TO ELEVATE
In a significant decision for the maritime sector, The Eternal Bliss[1], the English Commercial Court has resol ...
Sunday, 03 January 21
INDIA: COMMERCE MINISTRY LAUNCHES COAL IMPORT MONITORING SYSTEM - PTI
CIMS shall require importers to submit advance information in an online system for imports of items and obtain an automatic registration number by ...
Wednesday, 30 December 20
A LOOK BACK INTO 2020: THE HEADWINDS, THE TAILWINDS AND EVERYTHING IN BETWEEN - SIGNAL
There is no doubt that 2020 has been a turbulent year for commercial shipping. The coronavirus pandemic has shaken the global maritime transport. T ...
Tuesday, 29 December 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.66 PCT - XINHUA
China Taiyuan coal transaction price index stood at 134.78 points Monday, up 0.66 percent week on week.
The index, released by China ...
Tuesday, 29 December 20
CORROSION-RESISTANT STEELS FOR CARGO OIL TANKS - DNV GL
KNOWLEDGE TO ELEVATE
Crude oil is a complex mixture of substances at varying ratios and in most cases contains at least some salt water. ...
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- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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