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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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Wednesday, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
Friday, 27 August 21
THE ECONOMICS OF INDONESIA’S DIESEL POWER PLANT TO GAS CONVERSION PLAN ARE PROBLEMATIC - IEEFA
Deploying new small-scale LNG is an uphill battle for PGN
Indonesian gas is currently in a precarious position, where the government needs to ...
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- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
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