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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, 24 July 20
IPA: THERMAL COAL IMPORTS AT MAJOR PORTS DECLINE 35 PC TO 17.71 MT IN APR TO JUNE - ECONOMIC TIMES
These ports had handled 27.13 MT of thermal coal and 14.95 MT of coking coal in the April-June period of the previous financial year
...
Thursday, 23 July 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 1.36 MILLION TONS OF BITUMINOUS COAL FOR OCTOBER 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 1,360,00 ...
Wednesday, 22 July 20
CIL'S COAL SUPPLY TO POWER SECTOR DROPS OVER 21% TO 93.5 MT IN APR-JUN QUARTER - PTI
The supply of coal by state-owned Coal India Ltd to the power sector fell 21.7 percent to 93.5 million tonnes (MT) in the first quarter of the ongo ...
Monday, 20 July 20
KOREA MIDLAND POWER INVITED BIDS FOR TOTAL 2.520 MILLION MT OF BITUMINOUS COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO), has issued an international tender for total 840,000 of Bituminous Coal to be used at Bo ...
Monday, 20 July 20
CHINA'S JUNE COAL OUTPUT FALLS 1.2% YEAR-ON-YEAR OVER ILLEGAL MINING CHECKS - REUTERS
China’s coal output dropped 1.2% in June on the year to 330 million tonnes, official data showed, as major coal mining areas cracked down on ...
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- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- VISA Power Limited - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
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