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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 ...
Friday, 06 March 20
SOLID BACKING FOR LNG AS A MARINE FUEL - BALTIC EXCHANGE
When it comes to choosing the best fuel on the near horizon to help the international shipping industry shrink its carbon intensity by 2050, DNV GL ...
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INDONESIA COAL PRICE REFERENCE UP AGAIN THIS MONTH
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Thursday, 05 March 20
PANAMAX: SHIP-OWNERS HAVE MOSTLY BEEN GETTING HIGHER RATES THAN THE LAST DONE - FEARNLEYS
Cape
There is still limited amount of positive news around, with the effects of Corona virus hurting world economy. However, overall average in ...
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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- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Australian Coal Association
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
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