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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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Friday, 01 May 20
LUKOIL SHARES LUBRICANT EXPERIENCE AFTER FIRST 100 DAYS OF OPERATION ON VLSFO
KNOWLEDGE TO ELEVATE
After 100 days of VLSFO operation, LUKOIL Marine Lubricants is sharing recent experience on VLSFO operation with NAVIGO M ...
Wednesday, 29 April 20
OIL CLOSES IN ON PEAK OVERSUPPLY - WOOD MACKENZIE
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-US$20/bbl in this downturn and WTI sub ...
Monday, 27 April 20
INCIDENT INVESTIGATION: SEARCH FOR THE CAUSE, NOT THE VILLAIN - GARD
Incident investigations often conclude with placing the blame for an incident on the crew. Causes of the incidents are usually identified as proced ...
Monday, 27 April 20
A 58,000DWT VESSEL WAS FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY WC INDIA, AT $4,500 - BALTIC BRIEFING
Capesize
The tide turned this week for the Capesize market, as voyage rates registered dramatically falling fuel costs. This was led primarily ...
Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
Some ...
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- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- The University of Queensland
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
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