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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, 07 May 20
CRUDE OIL TANKER EARNINGS DROP 68% IN NINE DAYS - BIMCO
Crude oil tanker earnings have come down sharply in recent weeks with Very Large Crude Carrier (VLCC) earnings from the Middle East Gulf to China d ...
Thursday, 07 May 20
UKRAINE PRODUCES 2.5 MLN TONNES OF COAL IN APRIL - UKRINFORM
Ukraine produced 2.5 million tonnes of coal in April 2020, which is 39% less than planned, according to the Coal Miners Union of Ukraine.
...
Thursday, 07 May 20
INDIA: GOVT TO DO AWAY WITH MANDATORY WASHING OF COAL FOR THERMAL POWER UNITS - BUSINESS STANDARD
The Centre is planning to do away with the mandatory requirement of washing of coal before it is transported to thermal power stations. The Ministr ...
Thursday, 07 May 20
CIL'S SUPPLY TO POWER SECTOR FALLS IN MARCH AMID SLUMP IN COAL DEMAND - PTI
The supply of coal to the power sector by state-owned CIL registered a decline of eight per cent to 42.30 million tonne in March in the wake of slu ...
Thursday, 07 May 20
COAL PRICE REFERENCE FALL SHARPLY IN MAY 2020 DUE TO CORONAVIRUS OUTBREAK
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
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