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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Planning Commission, India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- The University of Queensland
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Australian Coal Association
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
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