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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, 31 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.43 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.17 points Monday, down 0.43 percent week on week.
The index, released by Chi ...
Tuesday, 31 March 20
COAL POWER REMAINS IN GLOBAL DECLINE, DESPITE CHINESE SURGE - SYDNEY MORNING HERALD
The impact of coronavirus has prompted a surge in coal-fired power plant construction permits in China, with the Chinese government issuing more pe ...
Monday, 30 March 20
CORONAVIRUS - IMPLICATIONS FOR SHIPS AND CREW - GARD
KNOWLEDGE TO ELEVATE
Countries around the world are strengthening their border control measures in order to prevent the further spread of COVI ...
Monday, 30 March 20
LAY-UP AND RE-ACTIVATION REVISITED - GARD
KNOWLEDGE TO ELEVATE
The COVID-19 pandemic has affected the maritime industry in previously unthinkable ways. Ports around the world are denyi ...
Monday, 30 March 20
PANAMAX: INDONESIA LACKED VOLUME, PARTLY DUE TO FORCE MAJEURE IN INDIAN PORTS - BALTIC BRIEFING
Capesize
As Covid-19 continued to ratchet up tensions across the globe, the Cape market dealt with the change to remote working. Most regions o ...
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- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
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