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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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Saturday, 06 June 20
KOREA SOUTH-EAST POWER CO INVITED COAL BIDS FOR MIN 5600 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 270,000 Tons (MT) min. 5600 NCV co ...
Friday, 05 June 20
COAL INDIA ESTIMATES PRODUCTION GROWTH BY OVERBURDEN REMOVAL - FINANCIAL EXPRESS
PSU miner Coal India (CIL) has now limited mining only to Overburden Removal (OBR) with falling demand of coal. The mining behemoth is now keeping ...
Friday, 05 June 20
U.S. SANCTIONS COMPLIANCE GUIDANCE RELEASED FOR THE GLOBAL MARITIME, ENERGY AND METALS SECTORS - AKIN GUMP
Key Points
On May 14, 2020, OFAC, the Department of State and the U.S. Coast Guard jointly released guidance for persons involved in the ma ...
Friday, 05 June 20
IN THE FIRST 5 MONTHS OF 2020 AUSTRALIA SHIPPED 6.8 MLN TONNES TO VIETNAM - BANCHERO COSTA
In the first 5 months of 2020, global seaborne coal trade declined by as much as -8% year-on-year, according to vessel tracking data from Ref ...
Thursday, 04 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
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