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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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Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
Monday, 01 June 20
SUPRAMAX: IN SOUTH EAST ASIA RATES TRADED SIDEWAYS - BALTIC BRIEFING
Capesize
A sober end to the week, with the market seemingly ready for the weekend. After a steady week of rate declines a small flurry of Atlan ...
Friday, 29 May 20
COVID-19: COAL SUPPLY BY CIL TO POWER SECTOR DIPS 22% TO 32 MT IN APRIL DUE TO DEMAND SLUMP - PTI
Over 95% of CIL’s production comes from its 171 open cast mines.
The supply of coal to the power sector by state-owned Coal In ...
Friday, 29 May 20
AUSTRALIA'S NEW HOPE WARNS OF HIT FROM COAL PRICE SLUMP - REUTERS
Australia’s New Hope Corp Ltd said on Thursday that a sudden drop in thermal coal prices and lower output from its Queensland operations woul ...
Friday, 29 May 20
GOVT MAY LAUNCH COAL BLOCKS AUCTION PROCESS UNDER COMMERCIAL MINING ON JUN 11 - PTI
The Centre is likely to launch the process of coal blocks auction under commercial mining on June 11 and around 50 mines are expected to go under t ...
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- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Australian Coal Association
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
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