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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, 20 August 20
MINER BHP CONFIRMS PLANS TO EXIT THERMAL COAL SECTOR - THE SYDNEY MORNING HERALD
The head of mining giant BHP has laid out plans for a reshaping of its global operations by seeking to quit thermal coal mining, offload some cokin ...
Thursday, 20 August 20
LONDON RETAINS ARBITER CROWN - BALTIC EXCHANGE | HFW
Fears that the UK’s decision to leave the European Union would dent the reputation of the nation’s capital as the leader in maritime ar ...
Wednesday, 19 August 20
U.S. COAL STOCKPILES STEADILY INCREASE AFTER REACHING LOWEST LEVEL IN A DECADE IN 2019 - EIA
After reaching their lowest level in more than a decade in March 2019, U.S. coal stockpiles steadily increased to 152 million tons in April 2020, r ...
Wednesday, 19 August 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.26 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.92 points Monday, down 0.26 percent week on week.
The index, released by Chi ...
Wednesday, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
...
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- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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