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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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Saturday, 05 September 20
INDIA WON'T KICK ITS COAL HABIT SO EASILY - HINDU BUSINESS LINE
India has traditionally considered itself lucky to have been endowed with abundant coal reserves, which it has sought to use to meet its energy nee ...
Saturday, 05 September 20
FINANCING COMPLETE FOR 900MW FIFTH PHASE OF MASSIVE DUBAI SOLAR PARK: ARABIAN BUSINESS
Saudi-based ACWA Power on Thursday announced it has completed the signing of all financing agreements for the fifth phase of the Mohammed bin Rashi ...
Saturday, 05 September 20
POLISH COAL DEMAND EXPECTED TO FALL BY 7 MLN TONNES NEXT YEAR: MINISTER - REUTERS
Poland’s demand for coal is expected to fall by around 7 million tonnes next year, or more than 10% of annual hard coal production, after a d ...
Saturday, 05 September 20
PAKISTAN'S NEW 27-YEAR POWER PLAN RISKS LOCKING IN LONG-TERM OVERCAPACITY, LEAVING IMPORTED COAL AND LNG PLANTS STRANDED - IEEFA
Wind and solar, the country’s cheapest source of new generation, also overlooked
Pakistan risks locking itself into building m ...
Friday, 04 September 20
IN A DEEPENING DEBT HOLE OF $34 BILLION, INDONESIA’S PLN MUST STOP DIGGING - IEEFA
The utility has added IDR100 trillion in debt annually for the last five years
Utilities globally started changing the way they do business ye ...
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- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Planning Commission, India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
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