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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, 31 July 20
BOTSWANA PLANS MORE COAL-FIRED POWER AS AFRICAN SOLAR ACCELERATES - IEEFA
An African economic leader like Botswana should embrace solar to reduce subsidies and tariff hikes
As Sub-Saharan solar ambition has ...
Wednesday, 29 July 20
2019 U.S. COAL PRODUCTION FALLS TO ITS LOWEST LEVEL SINCE 1978 - EIA
In 2019, U.S. coal production totaled 706 million short tons (MMst), a 7% decrease from the 756 MMst mined in 2018. Last year’s production wa ...
Wednesday, 29 July 20
MARKET INSIGHT - INTERMODAL
The dry bulk sector is beginning to recover from reduced SnP activity recorded in the first quarter of 2020. The table below illustrates that appro ...
Tuesday, 28 July 20
DEUTSCHE BANK TO END GLOBAL BUSINESS ACTIVITIES IN COAL MINING BY 2025 - REUTERS
Deutsche Bank, in a revamp of its policies for fossil fuels, said on Monday that it would end business activities worldwide related to coal mining ...
Monday, 27 July 20
IEEFA ENERGY FINANCE CONFERENCE 2020: COAL, LNG, PETROCHEMICAL SECTORS FACE POOR OUTLOOK AND UPHILL BATTLE FOR INVESTORS
Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic
Three major fossil fuel ...
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- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- The University of Queensland
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
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