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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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Wednesday, 02 December 20
MARKET INSIGHT - INTERMODAL
It has been another busy week in the dry bulk secondhand market; a healthy number of sales reported predominantly from Japanese owners while owner& ...
Thursday, 26 November 20
DECLINE IN COAL EXPORTS ADDS TO NAVAJO-OWNED COMPANY'S PROBLEMS - IEEFA U.S.
Weak demand and low prices are likely creating steep losses for NTEC
U.S. coal exports to Asia—once heralded as the saving gra ...
Thursday, 26 November 20
COAL FINANCING QUICKLY DRYING UP WORLDWIDE - ANALYSTS : REUTERS
Financing for coal projects is drying up at ever increasing rates as more countries target zero carbon emissions amid an energy transition sweeping ...
Wednesday, 25 November 20
LIBOR REPLACEMENT AND SHIP FINANCE - WHERE IS IT HEADING? - WFW
The likely replacement of the LIBOR at the end of 2021 creates difficult technical and practical issues for all sectors of business and finance. Th ...
Wednesday, 25 November 20
DRY BULK SHIPPING: CHINA REMAINS THE DRIVING FACTOR, BUT COAL POLICY IS DISRUPTING THE MARKET - PETER SAND, BIMCO
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-e ...
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- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
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