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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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Friday, 04 September 20
KOMIPO INVITED BIDS FOR AUSTRALIAN MIN 5,700 NCV COAL FOR NOVEMBER
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 260,000 MT Min.5,700 kcal/kg NCV coal November, 2020 loading. Acc ...
Thursday, 03 September 20
BRINGING SERVICES OF FTCCI CLOSER TO THE EXPORTERS AT GMR AIR CARGO COMPLEX AT SHAMSHABAD
Press Release: “FTCCI Trade Facilitation Services at your doorstep now” says J.S. Chandrashekar, IRS., Principal Commissioner of Custom ...
Thursday, 03 September 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 02 September 20
COAL PRODUCTION FALLS 7% IN APR-AUG; OFF TAKE DIPS 13.4% - FINANCIAL EXPRESS
In the month of August coal off take also increased 9.3% y-o-y to 44.34 MT as compared with 40.57 MT in the same period last year.
C ...
Wednesday, 02 September 20
MARKET INSIGHT - INTERMODAL
The imminent global shift towards eco-friendliness has caused divide among the shipping community because there is no outlined, clear-cut way via w ...
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- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
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