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Wednesday, 05 February 20
MARKET INSIGHT - INTERMODAL
 The oil and gas industry benefitted from a strong and solid ground in the previous year. We witnessed a slow but steady increase in bunker’s prices that led, after a very long time, in large oil producers rethinking the revival of old and the beginning of new projects, which provided an opportunity for owners to charter their vessels in a healthier offshore business.
This positive momentum of the aforementioned increase in bunker’s prices continued up until recently and was largely affected by two main reasons. Initially, OPEC member countries agreed with Russia to extend oil supply cuts by an additional 500,000 barrels a day through the end of March 2020. Secondly and even more significantly, more than 5 percent of Saudi Arabia’s daily global oil production was disrupted as a result of the unexpected attacks on the country’s oil facilities.
Following these events, the price of Brent crude oil surpassed $70 per barrel this year while many expected the commodity to reach even higher levels as everything pointed out that we were moving towards a “cold-war” between U.S.A and Iran. However, the intervention of other countries denied bunker prices another leg up, with oil gradually slipping back to low $50 per barrel.
It is worthwhile mentioning that during the previous year the market benefitted from healthy activity as far as activity in projects and charter requirements for offshore vessels delivered to West Africa, United Arab Emirates and India Region were concerned, while in terms of the number of reported second-hand deals of AHTS/PSV units, buyers appetite grew significantly during that period. Along the same lines, scrapping activity remained firm, pushing as a result prices for secondhand OSV vessels up by 40% in some cases, while tonnage supply came down as a result and distressed deals started becoming scarce.
However, as 2020 kicked off, market momentum started to wane and uncertainty currently prevails in the market. Even if the long-awaited trade agreement between the US and China was finally signed, the positive spill overs will probably not be felt until later on in the year. In addition, tension in the Middle East last month together with the effects of the coronavirus on global economy and international trade that seem to be worsening day by day, are adding to the lack of confidence among market participants in regards to future oil prices.
Indeed, the first trading day in China, following the New Year holidays in the country, has already seen the local administration imposing tough measures to contain the virus, while many businesses are expected to remain shut in the coming weeks, leaving little room for an imminent improvement both in oil prices and investors’ sentiment.
By Panos Makrinos
Offshore Director
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
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.
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Friday, 18 September 20
INDIA'S COAL-FIRED POWER OUTPUT PICKS UP AS INDUSTRIAL USE RISES - REUTERS
India’s coal-fired electricity generation rose 9.4% in the first half of September, provisional government data showed, as demand from indust ...
Friday, 18 September 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 17 September 20
LAST HOPES FOR DEMAND GROWTH SET TO DISAPPOINT THERMAL COAL EXPORTERS - IEEFA
Asian thermal coal exporters are fighting an uphill battle even in new markets
The world’s largest thermal coal exporter is eyeing new m ...
Wednesday, 16 September 20
MARKET INSIGHT - INTERMODAL
Another active week in terms of SnP has concluded in the dry bulk market with a diversified array of transactions recorded. Despite the correction ...
Friday, 11 September 20
IMO 2020: A REVIEW OF THE TRANSITION TO VLSFOS - GARD
KNOWLEDGE TO ELEVATE
Many predictions were made in the run up to the imposition of the MARPOL 2020 sulphur cap, none of which was that the tra ...
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- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- The University of Queensland
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
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