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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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Wednesday, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
Since the Covid-19 outbreak, governments and central banks around the globe have been using their ammunition and stimulus packages to keep their ec ...
Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
Accordi ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
Tuesday, 18 August 20
BLACKBALLED: WILL COAL BOUNCE BACK FROM SLUMP OR IS IT TERMINAL? - SYDNEY MORNING HERALD
Even by the standards of this miserable year, 2020 has been a shocker for the global coal industry.
As the lockdown kicked in demand ...
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- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
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