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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, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
Wednesday, 05 August 20
SLUMP IN OIL REVENUE CHALLENGES MIDDLE EAST OIL EXPORTERS - INTERMODAL
The Covid-19 pandemic has had far-reaching consequences on the global capital markets. Despite the US government’s efforts for a quick and de ...
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- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- PTC India Limited - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
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