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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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Monday, 03 February 20
KOWEPO INVITING BIDS FOR 2.46 MILLION TONS OF MIN.5700 AND MIN.5600 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,460,000 tons of (Sub) Bitum ...
Sunday, 02 February 20
NOVEL CORONAVIRUS OUTBREAK IN CHINA - STANDARD CLUB
Members will be aware of the recent novel coronavirus outbreak in China, which has now been declared a global emergency by the World Health Organis ...
Sunday, 02 February 20
SUPRAMAX: A 52,000DWT SHIP WAS FIXED BASIS DELIVERY SOUTH KALIMANTAN TRIP TO INDIA, AT $6,000 - BALTIC BRIEFING
Capesize
The week proved conspicuous for all the wrong reasons. This was the week when the Baltic Capesize Index (BCI) turned negative, closing ...
Saturday, 01 February 20
50 MILLION PEOPLE QUARANTINED IN CHINA TO CONTAIN SPREAD OF CORONAVIRUS - HOW DOES IT AFFECT SHIPPING? - BIMCO
The outbreak of the novel coronavirus, declared a global health emergency by the WHO, has caused massive uncertainty across the global markets with ...
Saturday, 01 February 20
THERMAL COAL MARKETS: 5 TRENDS TO WATCH OUT FOR IN 2020 - MINING REVIEW
The seaborne thermal coal market entered the year challenged by low priced LNG in the Atlantic and rapidly increasing supply in the Pacific.
&n ...
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- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
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