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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 14 February 20
KOWEPO INVITED BIDS FOR 1.275 MILLION TONS OF MIN. 5,600 NCV COAL
COALspot.com: Korea Western Power Co. Ltd (KOWEPO). as a representative of five Korean Gencos has issued an international tender for total 1,275,00 ...
Friday, 14 February 20
IS THE US COAL INDUSTRY COMPLETELY BURNED OUT? -FORBES
This is the fourth of a multi-part series on the state of the main sources of energy in the US and how they compare globally. The series will cover ...
Friday, 14 February 20
FITCH RTGS: GLOBAL PORTS VULNERABLE TO CORONAVIRUS - RELATED VOLUME DECLINES
Global ports will see reduced trade volumes as a result of the coronavirus, COVID-19, which would become more severe should Chinese production take ...
Thursday, 13 February 20
INDIA: MAJOR PORTS SHOW MUTED GROWTH IN CARGO AS THERMAL COAL VOLUME SLIDES 15% - BUSINESS STANDARD
A sharp slide of 15 per cent in thermal coal volumes weighed on the performance of major ports during the period of April-January of FY20. The majo ...
Wednesday, 12 February 20
REFINING SET FOR A CHALLENGING 2020 - WOOD MACKENZIE
Downstream isn’t the glamorous end of the oil business. And in Big Oil, it’s typically dwarfed by upstream. Yet having been forced to r ...
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- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Planning Commission, India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Australian Coal Association
- MS Steel International - UAE
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
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