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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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Tuesday, 07 April 20
COAL INDIA'S DISPATCHES DROP, OUTPUT INCREASES - THE HINDU
India’s largest coal producer Coal India Ltd. (CIL) has seen a 10% fall in dispatches in March 2020 due to a sharp fall in demand from the po ...
Tuesday, 07 April 20
CORONAVIRUS AND LOCKDOWNS DRAG DOWN THE INDONESIAN COAL PRICE REFERENCE IN APRIL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of the Indonesian ther ...
Monday, 06 April 20
A 52,000DWT SHIP FIXING DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY TAIWAN, AT $3,100 - BALTIC BRIEFING
Capesize
The Capesize market this past week looks to have come off life support and found some improved sentiment. The week began rather ordina ...
Monday, 06 April 20
INDIA'S 21-DAY LOCKDOWN - IMPACT ON COMMODITIES? - WOOD MACKENZIE
India is under a three-week lockdown from 25 March, to contain the spread of the coronavirus outbreak. Wood Mackenzie analysts discuss what this me ...
Friday, 03 April 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Parliament of New Zealand
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- The University of Queensland
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Planning Commission, India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
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