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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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Saturday, 11 June 22
AIMTEK INTERNATIONAL CONFERENCE AND AWARDS
Press Release: The prestigious AIMTEK International Conference and Awards concluded successfully on June 7th, 2022 at Radisson Blu, Yas Island Abu ...
Thursday, 26 May 22
MARKET INSIGHT - INTERMODAL
The newbuilding market activity has been significantly positive from a dry bulk owner perspective during the first half of 2022. Indeed, the contra ...
Wednesday, 18 May 22
INDONESIAN COAL PRICE REFERENCE DROPPED 4.42% IN MAY
COALspot.com: Indonesian Coal Price Reference for May delivery drops 4.42 per cent month on month.
The Indonesian Coal Price Referen ...
Thursday, 12 May 22
MARKET INSIGHT - INTERMODAL
Almost through half of the year, the overall shipping market continues to show signs of healthiness, after plenty of festivities and holidays that ...
Wednesday, 27 April 22
EUROPEAN UNION'S LNG IMPORTS - BANCHERO COSTA
In 2021, the European Union (27) was the third largest seaborne importer of LNG in the world, with a 15.8% share.
It followed Mainla ...
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- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- The University of Queensland
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
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