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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.
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Tuesday, 08 December 20
PANAMAX: THE OVERALL MARKET SEEMS TO BE UNDER NEGATIVE PRESSURE - ALLIED
Capesize
A rather indifferent week for the Capesize market, with BCI 5TC figure finishing the week with slight losses of 0.8%. The Atlantic enj ...
Friday, 04 December 20
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 ...
Friday, 04 December 20
THE INDONESIA COAL PRICE REFERENCE REACHES THREE MONTH HIGH ON IMPROVING DEMAND OUTLOOK
COALspot.com: The Indonesia Coal Price Reference reaches three month high on improving demand outlook . The Indonesia Coal Price Reference rose by& ...
Wednesday, 02 December 20
GLOBAL MINING SECTOR OUTLOOK STABLE DUE TO CHINA'S RECOVERY - FITCH RATINGS
China’s post-pandemic economic recovery and sizeable infrastructure-focused government stimulus boosted global metals and mining prices, help ...
Wednesday, 02 December 20
INDONESIA CONSIDERING CLOSING 3,400MW SURALAYA COAL PLANT - THE JAKARTA POST
The government is considering to shut down the aging Suralaya coal-fired power plant (PLTU) in Cilegon, Banten, and replace it with green energy, a ...
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- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
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