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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, 14 December 21
COAL LOCK-IN IN SOUTHEAST ASIA PRESENTS A CHALLENGE FOR THE ASIAN DEVELOPMENT BANK'S COAL RETIREMENT PLAN - IEEFA
In August, the Asian Development Bank (ADB) announced an ambitious plan to buy high emissions coal-fired power plants in Southeast Asia and retire ...
Saturday, 11 December 21
BUNKER BUYERS LOSE UP TO $5/MT FOR NOT COVERING ENOUGH SUPPLIERS - INTEGR8 FUELS
With the Brent price recently touching the $80 mark and before the Omicron variant concerns pushed it lower, bunker prices reached levels not seen ...
Tuesday, 07 December 21
SUPERCYCLE DEMAND: ARE WE THERE YET? - WOOD MACKENZIE
Taking young children on a long journey is fraught with challenges, not least the inevitable question a few minutes after leaving: are we there yet ...
Tuesday, 07 December 21
COAL WOULD REMAIN ENERGY LEADER FOR AT LEAST 15 YEARS - LIVEMINT
Coal India Ltd (CIL) has been in the eye of the storm after fuel stocks at coal-fuelled power plants depleted in October. Fuel stocks since are bei ...
Tuesday, 07 December 21
GLOBAL SHIPPING OUTLOOK TURNS STABLE FROM POSITIVE ON THE BACK OF PEAKING EARNINGS DURING 2021 - MOODY'S
The outlook for the global shipping industry is changed to stable from positive for the next 12 to 18 months due to demand slightly outstripping su ...
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- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- The University of Queensland
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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