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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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Wednesday, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that th ...
Wednesday, 19 February 20
AS OCEAN TEMPERATURES RISE, SHIPOWNERS LOOK FOR WAYS TO COPE - WARTSILA
The world is heating up, and its oceans are no exception. According to the International Panel on Climate Change (IPCC), the oceans absorb the majo ...
Wednesday, 19 February 20
MARKET INSIGHT - INTERMODAL
The coronavirus outbreak is estimated to negatively affect global economy by at least EUR400bn this year, representing around the 0.4% of global GD ...
Tuesday, 18 February 20
WEEKLY MARKET ANALYSIS - ALLIED
Under such poorly performing market circumstances, many usually take the historical approach, in order to better understand and further analyze the ...
Tuesday, 18 February 20
ADARO SHIPPED 27 PERCENT OF ITS TOTAL COAL PRODUCTION IN 2019 TO INDIA AND CHINA
PT Adaro Energy Tbk (AE) produced 58.03 Mt of coal from PT Adaro Indonesia (AI), Balangan Coal Companies and Adaro Me ...
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- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
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