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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Tuesday, 05 May 20
SUPRAMAXES: YTD SLIDE HAS BEEN 45%, WITH THE AVERAGE FOR 2020 TCA HOLDING AT US$5,793 - ALLIED
It has been almost three months since the WHO officially categorized the current coronavirus outbreak as a global pandemic, an outbreak that has br ...
Monday, 04 May 20
U.S. ESTIMATED COAL PRODUCTION FALL 39.4% YEAR ON YEAR IN THE WEEK ENDED APRIL 25 - EIA
Estimated U.S. coal production totaled about 8.6 million short tons (MMst) For the week ended April 25, 2020, says EIA in its latest report.
E ...
Saturday, 02 May 20
SUPRAMAX: ASIA, STRONGER NUMBERS - A 55.000-DWT WAS FIXED FROM INDONESIA TO CHINA IN THE MID $6,000S - BALTIC BRIEFING
Capesize
A tepid week for the big ships, as macro concerns continued to weigh heavily on the index. All of the major voyage routes lost value, ...
Friday, 01 May 20
KOSPO INVITED OFFER FOR 5600 NCV COAL FOR Q3 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 260,000 Metric Tons (MT) steam coal for Boryeong Power ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY ABOUT 8% IN 2020,THE LARGEST DROP SINCE WORLD WAR II - IEA
We expect global coal demand to fall by about 8% in 2020, the largest drop since World War II, with coal use declining in virtually every sector of ...
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- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- The University of Queensland
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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