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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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Sunday, 07 June 20
A SCRUBBER FITTED 61,000 ULTRAMAX WAS FIXED DELIVERY PHILIPPINES TRIP VIA SOUTH AFRICA REDELIVERY VIETNAM AT $9,500 - BALTIC BRIEFING
Capesize
The small flicker of hope at the beginning of this week has kindled a small fire under the Capesize market. At a paltry $3369 from the ...
Saturday, 06 June 20
KOREA SOUTH-EAST POWER CO INVITED COAL BIDS FOR MIN 5600 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 270,000 Tons (MT) min. 5600 NCV co ...
Friday, 05 June 20
COAL INDIA ESTIMATES PRODUCTION GROWTH BY OVERBURDEN REMOVAL - FINANCIAL EXPRESS
PSU miner Coal India (CIL) has now limited mining only to Overburden Removal (OBR) with falling demand of coal. The mining behemoth is now keeping ...
Friday, 05 June 20
U.S. SANCTIONS COMPLIANCE GUIDANCE RELEASED FOR THE GLOBAL MARITIME, ENERGY AND METALS SECTORS - AKIN GUMP
Key Points
On May 14, 2020, OFAC, the Department of State and the U.S. Coast Guard jointly released guidance for persons involved in the ma ...
Friday, 05 June 20
IN THE FIRST 5 MONTHS OF 2020 AUSTRALIA SHIPPED 6.8 MLN TONNES TO VIETNAM - BANCHERO COSTA
In the first 5 months of 2020, global seaborne coal trade declined by as much as -8% year-on-year, according to vessel tracking data from Ref ...
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- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- London Commodity Brokers - England
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
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