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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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Tuesday, 23 June 20
COVID-19 COULD CAUSE A BOOM IN COAL POWER - RYSTAD ENERGY | OILPRICE
COVID-19 has not only impacted the energy industry’s revenues but also its infrastructure development.
The delay of new natural gas ...
Tuesday, 23 June 20
CHINA'S COAL OUTPUT UP 0.9 PCT IN JANUARY-MAY: XINHUA
Output of raw coal in China rose 0.9 percent year on year to 1.47 billion tonnes in the first five months of this year, official data showed.
& ...
Monday, 22 June 20
KAMSARMAX TYPES REGULARLY HIT THE $9,000 PER DAY LEVEL FOR INDONESIAN COAL RUN TO CHINA, BALTIC BRIEFING SAYS
Capesize
The Capesize market trajectory this week has been one of the steepest rallies the sector has experienced. Opening at $12,410, the sect ...
Saturday, 20 June 20
WORLD OIL DEMAND IS PROJECTED TO DECREASE BY 9.1 MB/D IN 2020 - OPEC
Crude Oil Price Movements
Spot crude oil prices rebounded in May from low levels registered a month earlier, as physical market fundamentals im ...
Saturday, 20 June 20
NO ESCAPING GLOBAL TRADE SLUMP - BALTIC EXCHANGE
Those hoping for a decent recovery in trade in the second half of the year should prepare for disappointment.
New data from the Unit ...
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- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
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