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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, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
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- London Commodity Brokers - England
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
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