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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, 25 May 20
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
Non-OPEC oil supply continued to increase by 2.0 mb/d in 2019, driven by US shale production, which rose by 1.7 mb/d, amounting to 84% of total non ...
Sunday, 24 May 20
A 63,000 FIXED DELIVERY VIETNAM TRIP VIA INDONESIA REDELIVERY KOSICHANG AT $8,500 - BALTIC BRIEFING
Capesize
After a week of bounce momentum the market appears to have stalled out once again. The Capesize 5TC has more than doubled since last F ...
Saturday, 23 May 20
COLOMBIA COAL OUTPUT DOWN 7.2% IN Q1 ON LOW PRICES, CORONAVIRUS LOCKDOWN - REUTERS
Coal production in Colombia, the world’s fifth-largest coal exporter, fell 7.2% in the first quarter because of low prices and coronavirus qu ...
Saturday, 23 May 20
EWP INVITES BIDS FOR 840,000 METRIC TONS OF MIN 5700 NAR COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd (EWP) has Issued an International Tender for total Max 840,000 Metric Tons of min 5 ...
Thursday, 21 May 20
KOMIPO INVITED BIDS FOR TOTAL 610000 MT OF LCV AND HCV COAL FOR 2H 2020
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) has Issued an International Tender for 130,000 mt of 5700 NCV coal an ...
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- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
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