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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, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
Monday, 27 September 21
CHINESE COAL FIRMS MEET TO ADDRESS WINTER SUPPLY CHALLENGES - CNBC
Major Chinese coal producers are trying to resolve supply shortages and curb price rises as the country’s winter consumption peak approaches, ...
Saturday, 25 September 21
HIGH STAKES FOR ASIAN DEVELOPMENT BANK’S AMBITIOUS COAL POWER RETIREMENT PLAN - IEEFA
Implementation challenges could block funding for other equally important high impact clean energy funding strategies
In the lead up ...
Thursday, 23 September 21
LONGER COAL CONTRACTS MAY REIN IN PRICES - ECNS
In China’s coal sector that has been marred recently by price surges, regional authorities and related enterprises should ensure the fuel con ...
Thursday, 23 September 21
BALTIC INDEX HITS 12-YEAR PEAK ON FIRMER VESSELS RATES - REUTERS
The Baltic Exchange’s main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rat ...
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- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
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