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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, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
Thursday, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
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- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
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