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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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Friday, 03 April 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Wednesday, 01 April 20
TRADERS SCRAMBLE TO SELL CHEAP CRUDE CARGOES AS GLUT GROWS - REUTERS
Oil traders across the globe are offering cargoes far in advance as rapidly vanishing demand drives key physical crude prices to multi-decade lows, ...
Wednesday, 01 April 20
MARKET INSIGHT - INTERMODAL
There is an old, allegedly Chinese, saying suggesting that living in “interesting” times usually refers to times of trouble. The latest ...
Tuesday, 31 March 20
FREIGHT MARKET: DRY BULKERS - SPOT MARKET 23-29 MARCH 2020
Capesize
The rebound in freight rates resumed this past week, with rates man-aging to post further gains by week’s end. The BCI is in negat ...
Tuesday, 31 March 20
DRY BULK: Q1 HAS BEEN THE WORST QUARTER NOTED FOR MORE THAN 3 YEARS NOW - ALLIED RESEARCH
At this point, the Covid-19 pandemic seems to be monopolizing all market (as well as all other) discussions across the world and any market insight ...
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- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- White Energy Company Limited
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Bhatia International Limited - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
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