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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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Monday, 01 June 20
SUPRAMAX: IN SOUTH EAST ASIA RATES TRADED SIDEWAYS - BALTIC BRIEFING
Capesize
A sober end to the week, with the market seemingly ready for the weekend. After a steady week of rate declines a small flurry of Atlan ...
Friday, 29 May 20
COVID-19: COAL SUPPLY BY CIL TO POWER SECTOR DIPS 22% TO 32 MT IN APRIL DUE TO DEMAND SLUMP - PTI
Over 95% of CIL’s production comes from its 171 open cast mines.
The supply of coal to the power sector by state-owned Coal In ...
Friday, 29 May 20
AUSTRALIA'S NEW HOPE WARNS OF HIT FROM COAL PRICE SLUMP - REUTERS
Australia’s New Hope Corp Ltd said on Thursday that a sudden drop in thermal coal prices and lower output from its Queensland operations woul ...
Friday, 29 May 20
GOVT MAY LAUNCH COAL BLOCKS AUCTION PROCESS UNDER COMMERCIAL MINING ON JUN 11 - PTI
The Centre is likely to launch the process of coal blocks auction under commercial mining on June 11 and around 50 mines are expected to go under t ...
Friday, 29 May 20
KOMIPO ON BEHALF FIVE KOREAN GENCOS INVITED COAL BIDS FOR 5,700 & 4999 NCV COAL FOR AUGUST 2020 LOADING
COALspot.com: South Korea’s Korea Midland Power Co.,Ltd (KOMIPO) on behalf five (5) Korean Gencos has Issued an International Tender for tota ...
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- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
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