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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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Thursday, 11 June 20
JAN-MAY, INDONESIA SHIPPED 175.15 MILLION TONS OF COAL TO ITS OVERSEAS BUYERS
Indonesia's coal production for the first 5 months of this year have reached 228 million tons. January – May 2020, Indonesia shipped US$ ...
Thursday, 11 June 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 ...
Wednesday, 10 June 20
OPEC+ CUTS EXTENSION TO ACCELERATE MARKET REBALANCING - FITCH RATINGS
Fitch Ratings-London-08 June 2020: The OPEC+ agreement to extend by one month record oil production cuts should accelerate market rebalancing, Fitc ...
Wednesday, 10 June 20
MARKET INSIGHT - INTERMODAL
In contrast to the economic projections of the past two years for the first half of 2020, the oil & gas industry and those involved in it faced ...
Wednesday, 10 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.19 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.71 points Monday, down 0.19 percent week on week.
The index, released by Chi ...
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- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Planning Commission, India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- PTC India Limited - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- White Energy Company Limited
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
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