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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, 29 August 20
COAL INDIA'S FUEL SUPPLY TO POWER SECTOR DROPS ABOUT 20% IN APR-JUL: PTI
State-owned Coal India”s fuel supply to the power sector registered a decline of 19.5 per cent to 126.30 million tonnes (MT) in the April-Jul ...
Saturday, 29 August 20
SOUTH KOREAN BROKERAGE FIRM KOREA INVESTMENT & SECURITIES TO STOP ALL COAL BUSINESS - KOREA HERALD
South Korean brokerage firm Korea Investment & Securities has decided to stop its investments in coal, in line with the Moon Jae-in administrat ...
Thursday, 27 August 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 985,000 TONS OF BITUMINOUS COAL FOR NOVEMBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 985,000 ...
Thursday, 27 August 20
SOUTHEAST ASIAN NATIONS SET REGION-WIDE RENEWABLE ENERGY GOAL OF 23 PERCENT BY 2025 - ASEAN POST
The Association of Southeast Asian Nations (ASEAN) has set an ambitious target of securing 23 percent of its primary energy from renewable so ...
Thursday, 27 August 20
BANGLADESH POWER MINISTRY SEEKING AUTHORITY TO CANCEL 13,000 MW OF PROPOSED COAL-FIRED CAPACITY - BUSINESS STANDARD
In a bid to move away from dirty energy, the Ministry of Power, Energy and Mineral Resources is seeking the prime minister’s approval to conv ...
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- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
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