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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, 06 March 20
COLOMBIAN COAL OUTPUT FELL 2% IN 2019 - REUTERS
Coal production in Colombia, the fifth-largest coal exporter in the world, fell 2% to 82.2 million tonnes in 2019 after output at one of the princi ...
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SOLID BACKING FOR LNG AS A MARINE FUEL - BALTIC EXCHANGE
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Thursday, 05 March 20
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Thursday, 05 March 20
COAL IMPORTS DOWN IN MAJOR ASIAN MARKETS, AND CORONAVIRUS NOT THE DRIVING FORCE - CLYDE RUSSELL
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
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- Economic Council, Georgia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Australian Coal Association
- PTC India Limited - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
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