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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, 04 May 20
U.S. ESTIMATED COAL PRODUCTION FALL 39.4% YEAR ON YEAR IN THE WEEK ENDED APRIL 25 - EIA
Estimated U.S. coal production totaled about 8.6 million short tons (MMst) For the week ended April 25, 2020, says EIA in its latest report.
E ...
Saturday, 02 May 20
SUPRAMAX: ASIA, STRONGER NUMBERS - A 55.000-DWT WAS FIXED FROM INDONESIA TO CHINA IN THE MID $6,000S - BALTIC BRIEFING
Capesize
A tepid week for the big ships, as macro concerns continued to weigh heavily on the index. All of the major voyage routes lost value, ...
Friday, 01 May 20
KOSPO INVITED OFFER FOR 5600 NCV COAL FOR Q3 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 260,000 Metric Tons (MT) steam coal for Boryeong Power ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY ABOUT 8% IN 2020,THE LARGEST DROP SINCE WORLD WAR II - IEA
We expect global coal demand to fall by about 8% in 2020, the largest drop since World War II, with coal use declining in virtually every sector of ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY 8% IN Q1 2020 RELATIVE TO Q1 2019 - IEA
We expect global coal demand to fall by 8% in Q1 2020 relative to Q1 2019. This significant drop was driven by lower demand in the electricity sect ...
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- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
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