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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.
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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Sunday, 30 August 20
PANAMAX - THIS WEEK THE DEMAND HAS PICKED UP, BUT THE TONNAGE LIST IS INCREASING DAY BY DAY - FEARNLEYS
Cape Size
More or less flat from previous week, with cape rates moving from US$ 19,500 to 18,900 on average. West Australia however being more ...
Saturday, 29 August 20
COAL INDIA'S FUEL SUPPLY TO POWER SECTOR DROPS ABOUT 20% IN APR-JUL: PTI
State-owned Coal India”s fuel supply to the power sector registered a decline of 19.5 per cent to 126.30 million tonnes (MT) in the April-Jul ...
Saturday, 29 August 20
SOUTH KOREAN BROKERAGE FIRM KOREA INVESTMENT & SECURITIES TO STOP ALL COAL BUSINESS - KOREA HERALD
South Korean brokerage firm Korea Investment & Securities has decided to stop its investments in coal, in line with the Moon Jae-in administrat ...
Thursday, 27 August 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 985,000 TONS OF BITUMINOUS COAL FOR NOVEMBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 985,000 ...
Thursday, 27 August 20
SOUTHEAST ASIAN NATIONS SET REGION-WIDE RENEWABLE ENERGY GOAL OF 23 PERCENT BY 2025 - ASEAN POST
The Association of Southeast Asian Nations (ASEAN) has set an ambitious target of securing 23 percent of its primary energy from renewable so ...
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- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
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