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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, 17 June 20
KOREA SOUTHERN POWER CO INVITED 80000 MT OF LOW CALORIFIC VALUE COAL FOR AUGUST 1H, 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) Min 4,200 kcal/kg - Max. ...
Tuesday, 16 June 20
A GLOBAL ECONOMIC SLUMP: WHAT WILL IT MEAN FOR METALS AND MINING? - WOOD MACKENZIE
Back before coronavirus knocked “normal” out cold, the key issues for miners were sub-investment prices, rising requirements for ESG an ...
Tuesday, 16 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.58 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.43 points Monday, up 0.58 percent week on week.
The index, released by China ...
Tuesday, 16 June 20
HIGHER IRON ORE PRICES OFFSET CORONAVIRUS-DRIVEN PRODUCTION RISK - FITCH RATINGS
Lower iron ore production in Brazil, resulting from rising coronavirus infections, should only marginally affect the cash flow of Vale and other gl ...
Tuesday, 16 June 20
SHALE SHOCKED - WOOD MACKENZIE
Capturing shut-ins in real time
Oil markets are searching for balance as the world reflects on the impact of the COVID-19 pandemic. ...
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- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Planning Commission, India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- The University of Queensland
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
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