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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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Thursday, 24 September 20
SUPRAMAX: INDO TO INDIA FIXING AROUND US$13,000 - FEARNLEYS
Cape
Over the last week the iron ore segment from Brazil to China has picked up, and we see freight rates up USD 2 (12%) week on week Fearnleys ...
Thursday, 24 September 20
KOREA MIDLAND POWER TO BUY 1.92 MILLION TONS OF 4,300-4,700 NCV COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 640,000 MT 4,300-4,700 kcal/kg NCV coal per year.
...
Wednesday, 23 September 20
VIETNAM'S NEW POWER DEVELOPMENT PLAN MUST OPTIMIZE RENEWABLES AND AVOID FOSSIL FUEL LOCK-IN: IEEFA
EVN’s financial constraints leaves the utility with little room for error
Implementing Vietnam’s soon-to-be-launched next Power De ...
Wednesday, 23 September 20
MARKET INSIGHT - INTERMODAL
Undoubtedly, this year (ongoing) will never be forgotten because in a matter of months it has managed to severely affect and shape our day to day p ...
Friday, 18 September 20
INDIA'S COAL-FIRED POWER OUTPUT PICKS UP AS INDUSTRIAL USE RISES - REUTERS
India’s coal-fired electricity generation rose 9.4% in the first half of September, provisional government data showed, as demand from indust ...
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- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
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