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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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- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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