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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, 24 April 20
CHINA COAL PRODUCER YANZHOU COAL POSTS 9.6 PCT RISE IN 2019 NET PROFIT - XINHUA
China’s major coal producer Yanzhou Coal Mining Co., Ltd. said Thursday that its net profit saw a 9.6 percent rise in 2019.
Th ...
Tuesday, 21 April 20
INDONESIA ACCOUNTS FOR 19% OF JAPAN'S TOTAL COAL IMPORTS - BANCHERO COSTA
Coal trade in Asia is proving remarkably resilient this year, despite the global economic impact from COVID-19.
We have seen China&r ...
Tuesday, 21 April 20
COVID-19: CHARTERPARTY MATTERS FOR SHIPOWNERS - SKULD
KNOWLEDGE TO ELEVATE
Whilst the plight of cruise ships, stranded off shore with sick passengers and crew, may be dominating media headlines, t ...
Monday, 20 April 20
SUPRAMAX: A 52,000DWT SHIP FIXING AN INDONESIA COAL RUN TO CHINA AT $4400 - BALTIC BRIEFING
Capesize
This week was the strongest period seen for the Capesize market in several months. All routes globally succumbed to improved sentiment ...
Friday, 17 April 20
PANDEMIC TO BRING ASIA'S 2020 GROWTH TO HALT FOR 1ST TIME IN 60 YEARS - IMF: REUTERS
Asia’s economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an “unprecedented ...
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- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
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