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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, 23 July 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 1.36 MILLION TONS OF BITUMINOUS COAL FOR OCTOBER 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 1,360,00 ...
Wednesday, 22 July 20
CIL'S COAL SUPPLY TO POWER SECTOR DROPS OVER 21% TO 93.5 MT IN APR-JUN QUARTER - PTI
The supply of coal by state-owned Coal India Ltd to the power sector fell 21.7 percent to 93.5 million tonnes (MT) in the first quarter of the ongo ...
Monday, 20 July 20
KOREA MIDLAND POWER INVITED BIDS FOR TOTAL 2.520 MILLION MT OF BITUMINOUS COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO), has issued an international tender for total 840,000 of Bituminous Coal to be used at Bo ...
Monday, 20 July 20
CHINA'S JUNE COAL OUTPUT FALLS 1.2% YEAR-ON-YEAR OVER ILLEGAL MINING CHECKS - REUTERS
China’s coal output dropped 1.2% in June on the year to 330 million tonnes, official data showed, as major coal mining areas cracked down on ...
Monday, 20 July 20
COAL INDIA LAUNCHES SPECIAL CATEGORY OF E-AUCTION FOR COAL IMPORTERS - BUSINESS STANDARD
Coal India (CIL) on Friday launched a special category of e-auction for importers of coal. This is in line with the government’s declaration ...
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- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- PTC India Limited - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
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