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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, 13 December 20
LONGSTANDING DOWNSIDE RISKS TO TRADE OUTLOOK - BALTIC EXCHANGE
The OECD has attempted to put a positive spin on the trade message emanating from its latest economic outlook, released last week.
The ...
Sunday, 13 December 20
INDONESIA COAL OUTPUT AT 514 MILLION TONNES THIS YEAR, 2021 TARGET UNCHANGED - REUTERS
Indonesia coal output in the period to Dec. 10 stood at 514.2 million tonnes, official data from the energy ministry’s website showed.
&n ...
Thursday, 10 December 20
MALAYSIA'S CIMB ANNOUNCES COAL FINANCING PHASE-OUT BY 2040 AS ASIA'S FOSSIL FUEL DIVESTMENT DRIVE ACCELERATES - IEEFA
The first emerging markets bank to announce a progressive coal exit policy
Malaysia’s CIMB Group Holdings (CIMB) has announced ...
Wednesday, 09 December 20
MARKET INSIGHT - INTERMODAL
Heading towards the end of a difficult year and with the entire planet under the shadow of the covid-19 virus, it is interesting to proceed with a ...
Tuesday, 08 December 20
MARKET ANALYSIS - ALLIED SHIPPING
It is now undisputed that oil consumption for 2020 will post a considerable drop, as demand for several petroleum products has plummeted since the ...
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- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- MS Steel International - UAE
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- The University of Queensland
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
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